Jimmy Lai, the Commercial Director of OKX Global, revealed that the OKX Group is in the final phases of applying for a license in Hong Kong, with official approval anticipated between March and June of the following year.
This notable advancement in cryptocurrency exchange represents a crucial stride in expanding their regional activities.
OKX Group’s decision to acquire a license in Hong Kong is viewed as a strategic endeavor to strengthen its presence and cater to the burgeoning interest in cryptocurrencies among retail investors.
Lai, expressing optimism, envisions that issuing this license will facilitate an influx of approximately 100,000 to 200,000 retail investors in Hong Kong, further propelling the cryptocurrency market’s momentum.
Nevertheless, experts in the industry, such as Li Zhikai, advise against anticipating a surge in licensed securities firms in Hong Kong in the upcoming year.
Zhikai, closely monitoring regulatory developments, foresees a cautious approach by the China Securities Regulatory Commission.
He expects the regulatory body to impose rigorous criteria on prospective license applicants to ensure the stability and security of the cryptocurrency market.
Zhikai’s viewpoint underscores the regulatory authorities’ preference for vigilant oversight of the performance and compliance standards adherence by the initial license holders before contemplating any significant expansion.
This cautious approach also safeguards investors’ interests and preserves the integrity of the burgeoning cryptocurrency ecosystem in Hong Kong.
