The Hong Kong-based HTX cryptocurrency exchange, also known as Huobi Global, withdrew its license application on February 23, according to the Securities and Futures Commission‘s website.
Seychelles-based cryptocurrency exchange HTX is a trading platform backed by Chinese-born entrepreneur Justin Sun. HTX did not disclose the reason for the withdrawal. At the time of this article’s publication, an HTX spokesperson was unavailable for comment.
The SFC website offers a list that informs the public about the state of regulation of virtual asset trading platforms in Hong Kong.
Over the years, both HTX and its sister exchange Poloniex have been robbed. In early November, a hacker stole a wide assortment of more than 175 Poloniex tokens from the exchange, leading to a loss of $125 million from its portfolio.
At this point, Sun confirmed that such losses are “within manageable limits” and that users can cover them from the exchange’s revenues. Since Sun owns sister cryptocurrency exchanges HTX and Poloniex, Sun assured customers that their deposits are “100% safe.”
In an interview with CoinDesk, Sun said that both platforms have found a way to resolve the hack and have now resumed user withdrawals for a significant portion of their assets.
Chin added, “I think in the case of HTX, we have already resumed 95% of the assets in USD.” “In the case of Poloniex, we have resumed about 85% of assets in USD.”
In June, he told CoinDesk that he anticipates HTX will receive a license to trade cryptocurrencies in Hong Kong within the next six to twelve months.
As Crypronews’ Jai Pratap reports, Singapore-based cryptocurrency exchange Crypto.com threw down the gauntlet in January to obtain a license to operate in Hong Kong. The company applied to the Hong Kong SFC for a license to operate as a virtual asset trading platform (VATP) on February 9.
