Justin Sun Predicts Huobi May Get Hong Kong License in 6 to 12 Months

Crypto speech Huobi could person a crypto trading licence successful Hong Kong arsenic soon arsenic the extremity of the year, Huobi advisor and Tron laminitis Justin Sun said connected CoinDesk TV connected Friday.

The speech submitted an exertion to go a virtual plus work supplier (VASP) past week, helium said, which includes an 18-month grace play successful which regulators tin o.k. oregon contradict the application. But Sun sees the anticipation of faster action.

"Right present we foretell astir apt we volition person the licence successful the adjacent six to 12 months," helium said during the interview.

The speech precocious moved its office from Singapore to Hong Kong successful hopes of launching Huobi Hong Kong aft the metropolis said it is looking to become a virtual plus hub arsenic soon arsenic this summer.

While it’s chartless if immoderate different Asia-based crypto exchanges person applied for a akin license, Sun said helium could spot 5 to six different players besides making the move, including OKX, Gate.io, Bitget and ByBit.

When asked astir perchance competing with Coinbase and Kraken successful Canada, Sun said Huobi has nary plans to run successful the state fixed its strict regulatory requirements.

“I’ll enactment connected each the affable jurisdictions first,” Sun said, referring to the Caribbean, Hong Kong, and Japan successful general.

UPDATE (June 2, 2023, 16:53 UTC): Adds nonstop punctuation from Sun describing his prediction for the timing of a license.