HTX’s Hong Kong affiliate withdrew its license application for the second time on Tuesday, adding uncertainty about whether the exchange can legally operate in the region.

HBGL Hong Kong Limited, or Huobi HK, has been removed from the Securities and Futures Commission’s list of virtual asset trading platform applicants to the list of those who have withdrawn their applications, according to the SFC’s website.

The SFC’s license application page showed that Huobi HK was removed from the list on Tuesday. That came after the company re-submitted the application on February 26 after its previous application was withdrawn on February 23.

The SFC did not specify the reason why the firm withdrew the application. Huobi HK did not immediately respond to The Block’s request for comment.

The Hong …