forkast.news
HTX, a cryptocurrency exchange associated with entrepreneur Justin Sun, has resubmitted its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong.
The exchange, previously known as Huobi, had initially withdrawn its application just days before.
The Securities and Futures Commission (SFC) of Hong Kong has recently intensified its regulatory efforts, mandating that unregistered crypto platforms apply for a license by Feb. 29 or cease operations by May 31.
The SFC’s website shows that HTX, through its Hong Kong subsidiary Huobi HK, initially filed for the license but retracted the application on Feb. 23. The SFC has received a total of seven new applications, including HTX, raising the number of exchange applicants to 19.
Only OSL and Hashkey are currently licensed crypto exchanges in Hong Kong.
The SFC’s recent actions, including the warning on its website and the push for licensing, demonstrate its commitment to overseeing the crypto market. Last year, Hong Kong introduced a licensing framework for VATPs to offer retail trading services.
The SFC’s website advises investors to verify the regulatory status of crypto platforms and has listed both licensed exchanges and applicants. The regulatory body has also proposed expanding its oversight to include over-the-counter (OTC) crypto products, with public consultation on the matter driven by anti-money laundering concerns.