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Hong Kong SFC lists OKX among virtual asset license applicants

Published: Monday, 20th November, 2023 - 22:12

The Hong Kong SFC updates its list of virtual asset trading platform license applicants, highlighting OKX as the first offshore applicant. 

The Hong Kong Securities and Futures Commission (SFC) has recently updated its list of virtual asset trading platform license applicants, marking a significant step in regulating cryptocurrency exchanges in the region.

The updated list, published on the SFC’s website, includes the names of seven companies actively seeking to operate crypto trading platforms in Hong Kong. Among these, OKX stands out as the first offshore exchange to formally apply for a compliance license in Hong Kong.

The move by the SFC is part of its ongoing efforts to provide transparency about regulatory statuses of virtual asset trading platforms targeting Hong Kong investors. The commission has made it clear that being on the list does not imply an endorsement of the platforms’ performance or credibility.

Investors are advised to refer to the SFC’s list of licensed virtual asset trading platforms for validated information. The SFC has also cautioned investors about the risks associated with trading virtual assets on unregulated platforms, including the seven other platforms currently on the applicant list.

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This post first appeared on: Crypto.News

Author: Mohammad Shahidullah
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