HTX Withdraws Crypto Exchange License Application in Hong Kong

The move comes just days before the regulatory deadline, highlighting the city's unique position in the crypto industry.

HTX, formerly known as Huobi, has withdrawn its application for a crypto exchange license in Hong Kong, just three days after its submission.
The withdrawal comes ahead of a February 29 deadline for crypto exchanges to apply for a license or cease operations in Hong Kong by June 1.
Hong Kong's welcoming stance towards crypto firms contrasts with mainland China's crackdown, having started its crypto licensing regime in June 2023.
Several global exchanges, including OKX, Bybit, and Crypto.com, have applied for the retail trading licenses in Hong Kong.
HTX did not disclose the reason for its withdrawal, and its Hong Kong operation, HBGL Hong Kong Limited, operates independently from HTX.