Home>Business>Binance-linked HKVAEX nonetheless getting ready to use for license in Hong Kong

Binance-linked HKVAEX nonetheless getting ready to use for license in Hong Kong


Hong Kong cryptocurrency trade HKVAEX has not utilized for a digital asset buying and selling platform license with Hong Kong’s Securities and Futures Fee (SFC), a spokesperson for HKVAEX has mentioned.

Amid a number of studies erroneously suggesting that HKVAEX has utilized for an SFC license, the HKVAEX consultant claimed the crypto trade is but to submit an utility.

“We’re nonetheless getting ready for the applying in the mean time,” the HKVAEX consultant instructed Cointelegraph on Nov. 27. The spokesperson pressured that HKVAEX shouldn’t be confused with VAEXC, which applied for a crypto license in Hong Kong on Oct. 25, in response to SFC knowledge.

“VAEXC is one other applicant, and so they don’t have anything to do with us,” the HKVAEX consultant mentioned, including that the agency is unrelated to HKVAEX.

Hong Kong VAEXC license utility. Supply: SFC

The information got here a couple of weeks after the Hong Kong-based publication South China Morning Put up (SCMP) reported that Binance was behind the HKVAEX trade. In accordance with SCMP sources, HKVAEX was arrange by Binance to pursue a crypto license in Hong Kong. The report additionally claimed that HKVAEX’s web site makes use of Binance servers to fetch content material.

The logos of cryptocurrency exchanges HKVAEX and Binance. Supply: SCMP

HKVAEX and Binance didn’t reply to Cointelegraph’s request for touch upon alleged hyperlinks between the platforms.

Associated: Interactive Brokers Hong Kong licensed in Hong Kong for retail virtual asset trading

In accordance with knowledge from SFC, OSL Digital Securities and HashKey exchanges are the one two crypto buying and selling platforms which have been licensed as digital asset buying and selling platform operators as of Nov. 27. In August 2023, OSL and HashKey turned the primary crypto exchanges to begin providing crypto trading services to retail customers in Hong Kong below the country’s new crypto regulations.

Journal: Bitmain’s revenge, Hong Kong’s crypto rollercoaster: Asia Express