Hong Kong’s Cryptocurrency Licensing System Faces Criticism and Market Exit
Hong Kong’s stringent new crypto licensing rules have led to major exchanges like #OKX and #Binance withdrawing applications
Hong Kong’s stringent new crypto licensing rules have led to major exchanges like #OKX and #Binance withdrawing applications
#OKX exits #Hong Kong, citing regulatory hurdles. The #crypto exchange ceases centralized trading May 31, 2024. Users assured of fund security.
According to recent sources, HashKey Group claimed to have obtained approval from Hong Kong’s SFC to run an off-platform virtual asset trading firm (“OTC”).
China is backing Hong Kong’s goal of becoming a crypto powerhouse. China’s Liaison Office officials have been frequent attendees at Hong Kong’s crypto gatherings.