[sun Yuchen: Huobi may obtain a Hong Kong encrypted currency trading license by the end of this year at the earliest.] Sun Yuchen said that Huobi could obtain an encrypted currency trading license in Hong Kong as soon as the end of this year. Huobi submitted an application from a virtual asset service provider (VASP) last week, including an 18-month grace period, which regulators can approve or reject, but Sun Yuchen said he expects a decision may be made within the next six to 12 months. Sun Yuchen also said that exchanges such as OKX, Gate.io, Bitget and Bybit may also apply for licences. Asked if it was possible to compete with Coinbase and Kraken in Canada, Mr Sun said Huobi had no plans to do business in the country given its stringent regulatory requirements.