According to TechFlow, on December 3, according to Sing Tao Daily, Ben Zhou, co-founder and CEO of cryptocurrency exchange Bybit, said that he plans to resubmit the application for a Hong Kong virtual asset license in the first quarter or first half of 2025. Zhou emphasized that the application for a Hong Kong license is mainly for attracting talents, rather than developing the Hong Kong market.

Bybit has recently allowed overseas Chinese to use mainland passports and ID cards to complete KYC, but will not open RMB business after legal consultation. The platform currently gives priority to obtaining a European license, and has applied for a Singapore license and hopes to be approved next year. For the US market, Zhou said he will wait and see the policy changes after the new SEC chairman takes office before making a decision.