Huobi Plans Crypto License in Hong Kong, HT Surges 16%
• Justin Sun – Tron’s Founder and a member of Huobi’s Global Advisory Board – revealed that the crypto exchange has applied for a trading license with Hong Kong’s watchdogs.
• HT – the native token of Huobi Global – spiked around 16% after Justin Sun outlined the company’s intentions to obtain regulatory approval in Hong Kong.
• If secured, the authorization will allow the platform to offer a wide range of digital asset services and products to domestic consumers.
Huobi Applies for Crypto Trading License in Hong Kong
Justin Sun – Tron’s Founder and a member of Huobi’s Global Advisory Board – recently announced that Huobi has applied for a trading license with Hong Kong’s watchdogs. This is part of their effort to secure regulatory approval in Hong Kong and provide more reliable services for users in this region.
HT Price Surge After News
The news caused an immediate surge in HT price, which is the native token of Huobi Global. The token rose by over 16%, showing investors‘ confidence in Huobi’s efforts to obtain regulatory approval.
What Will This Authorization Allow?
If successful, this authorization will allow Huobi to offer a wide range of digital asset services and products to domestic consumers within Hong Kong. This includes launching a new trading venue called Huobi Hong Kong, which will be fully compliant with local regulations.
Huobi’s Commitment To Regulation Compliance
Justin Sun believes that this major step towards obtaining regulatory approval demonstrates Huobi’s commitment to operating in a compliant and regulated manner. It also shows their willingness to work together with global regulators as well as create reliable platforms for users within different regions across the world.
In conclusion, Justin Sun’s announcement about Huobi applying for a crypto trading license in Hong Kong caused an immediate surge in HT price due to investor confidence regarding what it would enable if successful – offering various digital asset services and products domestically within Hong Kong via its new trading venue – while demonstrating the exchange’s commitment towards working alongside global regulators as well as providing reliable services for customers worldwide.