According to an announcement on the Securities and Futures Commission’s website, the Hong Kong-based subsidiary HTX (formerly known as Huobi) has withdrawn its license application for virtual assets trading.

SFC website shows that HTX withdrawn its application 3 days after it had been submitted.

(Hong Kong Securities and Futures Commission)

CoinDesk published in June last year that Justin Sun had predicted HTX, then Huobi, could receive a Hong Kong cryptocurrency trading license within 6-12 months.

A spokesperson from HTX didn’t immediately respond to a comment request.

Hong Kong’s South China Morning Post was the first to report that the exchange had withdrawn their application.