Summary
TLDR: Huobi has revoked its crypto exchange license in Hong Kong, along with other exchanges. The SFC advises investors to check the regulatory status of platforms and is expanding regulations to include OTC crypto products.
Key Points
1. Huobi has revoked its license for trading under Huobi HK following the Hong Kong regulator’s mandate for crypto exchange licenses.
2. The SFC advises investors to conduct due diligence on crypto platforms and recently saw Huobi HK withdraw its application just three days after submission on February 23.
3. All crypto exchanges in Hong Kong must either obtain or apply for a VATP license as of February 29, with the SFC emphasizing the importance of trading through licensed exchanges and regularly checking the regulatory status of platforms.