The Securities and Futures Commission of Hong Kong (SFC) has updated the list of applicants for a license to trade virtual assets.
The new SFC list now includes seven companies seeking to provide virtual asset trading services in Hong Kong
The most notable applicant on the list is OKX Hong Kong FinTech Company Limited, the Hong Kong arm of cryptocurrency exchange OKX, which applied for a license on November 16.
The SFC regularly updates and publishes its list as part of its ongoing efforts to provide transparency on the regulatory status of virtual asset trading platforms targeting Hong Kong investors. The SFC notes, however, that inclusion on the list does not imply any endorsement of the operation or reliability of the platforms.
The SFC has also warned investors of the risks associated with trading virtual assets on unregulated platforms, including those on the list of license applicants.
The growing number of applications underscores the growing interest in the cryptocurrency market in Hong Kong, which is taking active steps to create a favorable regulatory climate for the development of digital assets in its bid to become a key financial center in Asia.
OKX's decision to obtain a license to trade virtual assets in Hong Kong underscores its overall global strategy to operate in compliance with international and local regulatory frameworks and promote a safe and secure environment for trading digital assets.
Li Chikai, Chief Commercial Officer of OKX Global, said that the global digital asset ecosystem is moving towards increased regulation, which is in line with the cryptocurrency exchange's proactive approach to compliance.
It is worth noting that as the crypto asset trading market evolves, compliance is becoming an important aspect for industry participants.
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