OKX is the first offshore applicant on the Hong Kong SFC’s updated list of applicants for licenses to operate virtual asset trading platforms.
The recent update to the Hong Kong Securities and Futures Commission’s (SFC) list of applicants for licenses to operate virtual asset trading platforms is a big step toward regulating cryptocurrency exchanges in the area.
The names of seven businesses actively looking to run cryptocurrency trading platforms in Hong Kong are included in the latest list posted on the SFC website.
The first offshore exchange to formally apply for a compliance license in Hong Kong is OKX, making it stand out among the others. The action taken by the SFC is a component of its continuous endeavors to furnish transparency about the regulatory standing of virtual asset trading platforms that cater to investors in Hong Kong.
The commission has stated unequivocally that inclusion on the list does not imply approval of the platforms’ functionality or reliability. For verified information, investors are recommended to consult the SFC’s list of authorized virtual asset trading platforms.
The SFC has also warned investors about the dangers of trading virtual assets on unregulated platforms, such as the seven additional platforms on the list of applicants.
