Coinbry

  • Market Cap: $2,687,411,727,937.25
  • 24h Vol: $131,638,294,919.22
  • BTC Dominance: 50.82%
OKX crypto exchange nears completion of Hong Kong VASP license application

OKX crypto exchange nears completion of Hong Kong VASP license application

– OKX cryptocurrency exchange is in the final stage of acquiring a virtual asset service provider license (VASP) in Hong Kong.

– The exchange expects to receive the final approval for the license by March 2024.

– Hong Kong implemented a licensing regime for crypto exchanges to offer retail trading services, but only a few platforms have obtained the necessary license.

– The regulatory body in Hong Kong has approved Bitcoin and Ether trading for retail customers and imposed a 30% cap on investments.

– Other exchanges, such as Huobi and Gate.io, have also applied for retail crypto trading services and are awaiting regulatory approval.

– The Hong Kong Securities and Futures Commission has strict requirements for virtual asset service providers, including the provision of insurance and compensation arrangements.

– OKX has not yet responded to inquiries about their regulatory experience and expectations in the Hong Kong retail market.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.