- OKX has launched its Hong Kong branch and announced that it is filing a license to offer crypto services.
- The exchange is planning to stay in Hong Kong for at least 5 years.
- Two Hong Kong-based crypto events are going to be sponsored by OKX as well.
OKX, currently the second-largest crypto exchange in terms of trading volume, announced that it is officially setting up shop in Hong Kong. Specifically, OKX is applying for a license to operate in the said territory.
Read CRYPTONEWSLAND on
google news
Currently, the exchange has launched its Hong Kong branch and it is actively pursuing a virtual asset service provider (VASP) license. This has been in the works for at least a year, according to the official announcement.
Lennix Lai, the exchange’s Managing Director of Global Institutional, said that their Hong Kong roadmap extends to at least 5 years. General Counsel Bing Zhao also affirmed their cooperation with Hong Kong regulators to ensure total compliance with relevant laws.
The announcement came amid the CFTC suing Binance and its CEO Changpeng Zhao for various charges. Nowadays, regulators from different countries are imposing strict guidelines and tough actions against crypto exchanges, so, others may have viewed the OKX as inevitable to be revealed sooner than later.
Meanwhile, OKX also announced its sponsorship of crypto-related events in Hong Kong. Namely, these are the WOW Summit and Hong Kong Web3 Festival. Both events are expecting the active participation of Hong Kong government officials.
Read Also :
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
