HTX applied for VATP license in Hongkong!

Dear Readers,

Justin Sun, you all know that, is a Chinese-born Grenadian cryptocurrency entrepreneur and business executive also the founder of TRON. 

Ranked at 10th place, Tron currently trades at $0.1399, a up of 6.5% in a week's time.
Often he was a center of talk by the media and hit headlines for various reasons. 
During Oct 2022, Justin Sun bought the China based Crypto Exchange Huobi. Later Huobi exchange was name changed as HTX. 

After this, there was a pump and dump in the HT coin- the native coin of Huobi exchange. 
There were various indifferences that were raised between the owners of Huobi and Justin Sun and Justin Sun made a decision finally to make the voluntary conversion to HTX token which made every HODL's to come to HTX Crypto Exchange. 

We have also covered a story how to do the voluntary conversion of the present HT token to the HTX token through the exchange and what made Justin Sun to make this decision. Click here if you have not read it yet. 

At present HT token is trading at $1.19 which is ranked at 264th place. HTX coin trades at $0.000001821 and ranked at 2332 place according to the market capitalization. Interestingly, it has hit the All Time High Price of $0.000002979 at 31st January 2024. Currently it trades a low of 38.89% from its ATH. 

HTX hits the headlines again for it strategic move now. 

There is a news popped out that HTX has applied to the Securities and Futures Commission (SFC) for the Virtual Asset Trading Platform (VATP) in Hongkong to engage its operations through its local subsidiary body Huobi HK.

This application from HTX side in Hongkong underline the degree of competitions in the crypto domains in Hongkong. 

It is said that there are many such license applications for crypto exchanges are in before the SFC. 

It is also a known fact that Bybit's application is also being at purview of the SFC. 

Hongkong is one of the emerging crypto hubs in the globe and the policy is conducive for the crypto eco systems. That's why many investors, traders and institutions are showing interest in Hongkong's crypto markets. 

But there are various sources said that the process is very stringent in getting the license and many have voiced against this tough procedures and processes.