2 years ago
Justin Sun says helium is “100% confident” that Hong Kong’s Securities and Futures Commission (SFC) volition assistance Huobi a Virtual Asset Service Provider (VASP) license.
A caller licensing authorities was enacted connected March 1 to code planetary compliance with Anti-Money Laundering and Counter-Terrorism Funding, arsenic laid retired by the Financial Action Task Force (FATF).
Entities providing crypto services successful Hong Kong indispensable use for a VASP licence earlier March 1. The exertion process involves an appraisal of the entity based connected its liable officers, acceptable and due tests, and due grounds keeping, among different requirements.
Shaping the Hong Kong regulatory landscape
Speaking to CNBC, Sun said helium is 100% assured that Huobi volition beryllium granted a VASP license, fixed its lasting successful the Asia market.
“Definitely, 100% assured for Huobi to get a licence due to the fact that Huobi is 1 of the starring blockchain platforms successful Asia.”
The TRON laminitis went connected grounds to accidental helium thinks regularisation “is bully for the industry,” much truthful successful Hong Kong owed to lawsuit expectations of regulatory certainty.
On releasing the VASP licence guidelines, Sun said Huobi was the archetypal crypto speech to apply. He besides disclosed holding talks with the SFC to counsel connected processing an due integer plus framework.
“The Hong Kong authorities wants to instrumentality proposal from each antithetic kinds of blockchain participants.”
Does Sun ain Huobi?
Huobi was sold to About Capital Management successful October 2022, sparking rumors that Sun and disgraced erstwhile FTX CEO Sam Bankman-Fried were progressive with the deal.
Both denied engagement astatine the time. However, Sun stated that helium had taken connected an advisory relation astatine the exchange.
Fast guardant to January, a press release astir the company’s caller layoffs reported that the speech is nether Sun’s “leadership” successful its “path to rebirth.”
The station Justin Sun 100% assured Huobi volition get Hong Kong VASP license appeared archetypal connected CryptoSlate.
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