coinedition.com
As a result of a recent publication, the Hong Kong Securities and Futures Commission (SFC) decided to hire four additional staff members this year to “better oversee” virtual asset (VA) service providers and the activities in which these providers engaged.
This news comes when the market regulator is allegedly getting ready to implement a new licensing system to make it possible for more significant retail investments in cryptocurrencies.
It also comes at a time when the city is reportedly working to regain its position as a center for such assets in the wake of the ripple effect of FTX‘s demise, which caused a decline in asset values and a financial crisis for other businesses.
Amid these reports, Huobi is extending the push for Tether assets in Hong Kong, according to Tron`s Justin Sun.
Exactly! That's why I will move to Hong Kong. Chinese 🇨🇳crypto market on the rise! 🚀Experts predict that China will dominate the next crypto bull market, with #TRON and @HuobiGlobal leading the charge in Hong Kong development. https://t.co/CaX2Yp5EZA
— H.E. Justin Sun🇬🇩🇩🇲🔥₮ (@justinsuntron) January 29, 2023
It is also essential to remember that Tether announced listings for two more tokens, namely Tether Gold and Euro Tether, in December 2022.
Additionally, Sun revealed his aim to involve Huobi and Tron staff in Hong Kong amidst a renewed interest in digital assets on the part of the Chinese government. Furthermore, Sun restated the apparent interconnections between Chinese officials and the Hong Kong digital asset market.
At @HuobiGlobal, we are committed to diversity and inclusion in the workplace. That's why we are proud to announce that we will be hiring more female employees in the future.
— H.E. Justin Sun🇬🇩🇩🇲🔥₮ (@justinsuntron) December 29, 2022
Experts say that Tether customers may just need a new ally or liquidity venue and that Huobi is one of the few exchanges that maintain banking relationships in areas of interest to Chinese people in places like Hong Kong.