OKX, a cryptocurrency exchange platform headquartered in Seychelles, has recently applied for a cryptocurrency trading license in Hong Kong.
It has been claimed that practically all cryptocurrency exchanges have declared that they would seek a license. Yet, it has to be established how many cryptocurrency exchange platforms will be awarded this license to operate inside the city. Wu Blockchain tweeted about this information.
The report said that, for retail investors, no clear guidelines had been published about whether the city would enable retail investment in cryptocurrencies and the number of digital tokens available to investors.
Huobi’s Comeback Strategy
Moreover, Huobi Global is making significant strides in regaining lost territory. To ensure compliance with the city’s requirements, the cryptocurrency firm recently applied for a license before beginning operations inside the city. In addition, a tweet from Justin Sun indicates that Huobi will also establish the Huobi Hong Kong exchange, which will be subject to the rules of the local government in Hong Kong.
Huobi will be able to increase the variety of services and products it offers to consumers in Hong Kong, creating new prospects for cryptocurrency trading and investing.
Huobi to focus on Institutional and High Net Worth Clients
The new Huobi Hong Kong exchange will primarily emphasize the provision of trading services to institutional investors and individuals in Hong Kong who have a high net worth. The company’s position as a dependable and secure platform for more significant investors in Asia interested in joining the cryptocurrency sector is bolstered by establishing the new business, which enhances the company’s position as a leader in the industry.
Currently, OSL and HashKey are the only cryptocurrency exchanges in Hong Kong that operate actively.
With such rules, Hong Kong and cryptocurrency enterprises imply that these exchanges will be allowed to extend their services and products to consumers in Hong Kong, giving a more complete variety of alternatives for trading cryptocurrencies and investing in cryptocurrencies.
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