Cryptocurrency exchange Huobi Global is looking to move its Asia headquarters from Singapore to Hong Kong, Justin Sun told Nikkei Asia in an interview published Monday.
See related article: Hong Kong Begins Public Consultation on Crypto Licensing Regime
Fast facts
- Houobi plans to increase its workforce in Hong Kong from 50 to 200 by this year.
- Sun, an adviser to the exchange, said on Twitter on Monday that the exchange is applying for a Hong Kong crypto trading license and will launch a new exchange in Hong Kong to serve local institutional investors and high net worth individuals.
- Hong Kong Securities and Futures Commission (SFC) published proposals Monday for a new crypto licensing regime that could allow retail investors to trade certain “large-cap tokens” on compliant platforms.
- The SFC is accepting public comments on the proposals until March 31, and the new licensing regime is expected to come into effect on June 1, 2023.
- Sun has been a member of Huobi’s global advisory board since last October.
- Huobi fired 20% of its staff last month, citing the worsening crypto bear market.
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