Key Point
- Huobi announced the launch of Huobi HK, and with this, investors and traders of crypto will be able to sell, buy and hold crypto on the platform in the future
It is no longer news that Hong Kong is becoming a global crypto hub, especially during this period of crypto crackdown by the US government, Huobi being a goal getter is looking to leverage the crypto-friendly environment provided by the Hong Kong government to launch a crypto trading services in the country.
Huobi to Launch “Huobi HK”
As a part of the effort to push Hong Kong towards becoming the global economic hub for Web 3, the crypto exchange Huobi has announced plans to launch trading services in Hong Kong.
As countries like the US and Canada are making their countries almost impossible for crypto companies to thrive, Hong Kong has been run into the country for cryptocurrency companies of recent; no wonder Huobi exchange is looking to push for a presence in the country.
The crypto trading services named Huobi HK which focused on enabling Web 3 users in Hong Kong to have the best trading experience will as well, allow users to purchase, sell, and hold prominent cryptocurrencies in the future as the exchange is currently looking to secure regulatory approval from the country’s financial watchdog.
Hong Kong recently announced the introduction of crypto regulations, and in addition to the regulations, the Hong Kong Securities and Futures Commission (SFC) said that more rules guiding digital assets trading would be disclosed starting from June 1, 2023; as a result, retail traders will be able to trade virtual assets on licensed exchanges from Q2 of this year.
“Regulation of Web3 in Hong Kong will contribute to the widespread adoption of cryptocurrencies on a global scale. Huobi will continue to collaborate with regulatory authorities in Hong Kong to support the development of a vibrant Web3 hub,” a Huobi representative noted.
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