CoinspeakerHong Kong SFC Warns Public against HKCEXP for Suspected Crypto Fraud The SFC disclosed the exchange provided a fake address for its location in Hong Kong on its website to gain investors' trust. Hong Kong SFC Warns Public against HKCEXP for Suspected Crypto Fraud
Read More »Hong Kong SFC Issues Warning against MEXC Crypto Platform for Unlicensed Activities
CoinspeakerHong Kong SFC Issues Warning against MEXC Crypto Platform for Unlicensed Activities Although MEXC faces no direct allegations of wrongdoing, its past operations without appropriate licenses across various regions signal potential risks. Hong Kong SFC Issues Warning against MEXC Crypto Platform for Unlicensed Activities
Read More »22 Crypto Firms Seek Operational Licenses in Hong Kong
Coinspeaker22 Crypto Firms Seek Operational Licenses in Hong Kong Jurisdictions like Hong Kong offer a middle ground, balancing investor protection with fostering innovation and economic growth. 22 Crypto Firms Seek Operational Licenses in Hong Kong
Read More »Hong Kong Leads Asia’s Crypto Regulatory Evolution in 2023
Aside from Hong Kong, another country that has contributed significantly to the growth of the Asian crypto economy is Singapore. As the curtain draws nearer towards the end of 2023, Hong Kong has emerged as a significant player in shaping the regulatory landscape for crypto assets in Asia, the Block reported on Tuesday. Despite the many challenges faced in other jurisdictions around the world, there has been notable progress in the regulatory environment for the digital asset industry...
Read More »Hong Kong Ready to Accept Proposals for Crypto Spot ETFs
Regarding custody arrangements, the SFC emphasizes that the fund’s trustee or custodian can delegate its crypto custody function solely to an SFC-licensed VATP or entities meeting the crypto custody standards set forth by the HKMA. Hong Kong has announced its readiness to receive applications from traditional financial companies interested in exploring the emerging economy by creating exchange-traded funds (ETFs) tracking spot-based cryptocurrencies. The country already allows...
Read More »Hong Kong to Let Retail Investors Gain Exposure to Crypto ETFs
Hong Kong’s top financial regulator SFC shows willingness to allow retail players to gain access to spot crypto ETFs while ensuring that risks are addressed properly. Hong Kong regulators are assessing whether they can allow retail investors to seek exposure to spot crypto ETFs that directly invest in crypto assets. Julia Leung, the Chief Executive Officer of the Securities and Futures Commission said that the city is considering granting retail investors access to spot ETFs, contingent...
Read More »Hong Kong-based Crypto Exchange OSL Denies Being on Sale
OSL exchange’s parent firm has denied reports that its on sale with an estimated valuation of 1 billion Hong Kong dollars ($128 million). BC Technology, the parent firm of Hong Kong-based licensed crypto platform OSL, denied reports that the exchange is up for sale. BC Technology, the parent company of OSL, has refuted Bloomberg’s report on the pending sale as “factually inaccurate and highly misleading” in a statement filed with the Hong Kong Stock Exchange. As per the Bloomberg report,...
Read More »Hong Kong Chief Executive Vows to Strengthen Crypto Regulations Following JPEX Fraud Allegations
The Hong Kong Securities and Futures Commission, in their statement regarding the arrest of the alledged fraudsters, pointed out that JPEX was not licensed and lacked the authority to host a cryptocurrency trading platform within the community. Hong Kong police arrested six individuals in connection with allegations of fraud related to an unlicensed cryptocurrency exchange known as JPEX. According to the securities, this exchange was operating without the necessary license and...
Read More »OKX Set to Receive Hong Kong VASP License as It Enters Final Stage of Approval
According to an OKX exec, the exchange is in the final stage and has banks waiting on regulatory approval in the form of a license. Popular OKX crypto exchange is close to getting a virtual asset provider license (VASP) in Hong Kong and is in the final stage of the process. If all goes well, OKX should receive final approval for the license sometime in March 2024. OKX is currently engaging with banks and financial institutions that are waiting to kick off operations with the crypto...
Read More »Hong Kong Mounts Pressure on HSBC and Standard Chartered Bank to Service Crypto Customers
The new development aligns with the country’s ambition to become a prominent global hub for crypto. In a bold move aimed at embracing the crypto revolution in Hong Kong, the country’s banking regulator has reportedly exerted significant pressure on major financial services companies, including HSBC and Standard Chartered Bank, to accept crypto exchanges as clients. According to a Financial Times report on Thursday citing three people familiar with the matter, the Hong Kong Monetary...
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