HKVAEX Applies for License with Hong Kong Securities and Futures Commission
Hong Kong-based virtual asset trading platform HKVAEX has applied for a license with the Securities and Futures Commission (SFC), joining other recent applicants such as Panthertrade and OKX in seeking regulatory approval under Hong Kong's new crypto regulatory framework. The new framework, which permits retail investors to engage in virtual asset trading, has democratized access to digital assets and spurred the SFC to begin issuing licenses to crypto exchanges. The world's largest cryptocurrency exchange, Binance, is reportedly behind the establishment of HKVAEX, although the platform has maintained its independence and commitment to applying for the SFC's virtual asset trading platform license. The JPEX scandal has accelerated the SFC's efforts to approve cryptocurrency products to bolster industry compliance, while regulatory bodies are increasingly monitoring non-compliant platforms and curbing aggressive advertising tactics.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Visionary or 'financial comedy'? Market participants weigh MicroStrategy's stock premium amid bitcoin buying spree
MicroStrategy, with a market cap of around $85 billion, currently holds 331,200 bitcoin worth about $30 billion.The stock’s 440% year-to-date surge has baffled some financial pundits, while others have cheered its corporate strategy.
Congress’s top priorities this lame duck session
Here’s a look at what lawmakers are most focused on in these final weeks of the 118th Congress
First-ever Dogecoin ETP debuts in Nordics as Elon Musk boosts interest in the crypto asset
BTC breaks through $94,000