{"id":72044,"date":"2024-02-21T20:45:00","date_gmt":"2024-02-22T00:45:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=72044"},"modified":"2024-02-21T20:46:04","modified_gmt":"2024-02-22T00:46:04","slug":"htx-applies-for-vatp-license-in-hong-kong","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/htx-applies-for-vatp-license-in-hong-kong\/","title":{"rendered":"HTX Applies for VATP License in Hong Kong"},"content":{"rendered":"\n

On February 20, HTX submitted an application for a cryptocurrency license<\/a> for its Hong Kong local branch, intending to run HBGL Hong Kong Limited there.<\/p>\n\n\n\n

\"HTX
HTX Applies for VATP License in Hong Kong<\/figcaption><\/figure>\n\n\n\n

The cryptocurrency exchange HTX, formerly Huobi, has added itself to the list of applicants requesting authorization to begin operating in Hong Kong.<\/p>\n\n\n\n

As to the website of the Securities and Futures Commission <\/a>(SFC), HTX is attempting to obtain a license for its local subsidiary Huobi HK, which is run by HBGL Hong Kong Limited, to function as a virtual asset trading platform (VATP). <\/p>\n\n\n\n

Huobi thus became the most recent cryptocurrency business to apply for a VATP license in Hong Kong following the local government's announcement of a new regulatory framework in late 2022.<\/p>\n\n\n\n

Shortly after Bybit, another cryptocurrency exchange submitted an application to the SFC for a license to operate in Hong Kong, and HTX also filed one. <\/p>\n\n\n\n

Just two exchanges in Hong Kong have received licenses from the SFC thus far, despite the increased demand from cryptocurrency startups. OSL obtained licenses in December 2020 and by HashKey Exchange <\/a>in November 2022, respectively.<\/p>\n\n\n\n

On the other hand, complaints have been made about the success of Hong Kong's crypto strategy. The Hong Kong University of Science\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and Technology's vice president, Wang Yang, expressed reservations about the current licensing system, calling it onerous and ineffective. <\/p>\n\n\n\n

In order to draw attention to the difficulties experienced by licensed exchanges like OSL, which have sustained large losses since receiving permission to operate in the area, he also created the phrase “Licensed to Be Killed.”<\/p>\n","protected":false},"excerpt":{"rendered":"

On February 20, HTX submitted an application for a cryptocurrency license for its Hong Kong local branch, intending to run HBGL Hong Kong Limited there. The cryptocurrency exchange HTX, formerly Huobi, has added itself to the list of applicants requesting authorization to begin operating in Hong Kong. As to the website of the Securities and […]<\/p>\n","protected":false},"author":43,"featured_media":72046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1134,18096,18522],"class_list":["post-72044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hong-kong","tag-htx","tag-vatp-license"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/02\/croc_1708559304621.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/72044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=72044"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/72044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/72046"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=72044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=72044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=72044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}