Hong Kong’s Securities and Futures Fee (SFC) reportedly says that almost a dozen crypto exchanges are on the cusp of getting their buying and selling licenses authorized.
The SFC’s web site confirmed on June 1st that the 11 candidates, together with the Singapore-based Crypto.com and the Hong Kong-based Bullish, are “deemed to be licensed,” in response to a Bloomberg report.
Hong Kong launched new digital asset alternate laws final yr and set a June 1st deadline for crypto exchanges to acquire a digital asset buying and selling platform license or get the “deemed to be licensed” standing. SFC’s web site exhibits that there are at present two absolutely licensed crypto exchanges within the particular administrative area (SAR) – HashKey Alternate and OSL Group.
Bloomberg additional says that solely licensed platforms, or these deemed to be licensed, shall be allowed to function in Hong Kong. Precise permits will ultimately be issued by the SFC to digital asset buying and selling platforms that exhibit constant compliance.
Final month, the OKX crypto alternate introduced that it had pulled its software for a digital asset buying and selling platform license and would stop working within the SAR.
In late February, HTX, the crypto alternate related to Tron (TRX) founder Justin Solar and which was previously referred to as Huobi, introduced that it had withdrawn its software for a digital asset buying and selling platform license in Hong Kong. HTX later reapplied earlier than withdrawing the appliance as soon as extra. One other crypto alternate that withdrew its software for Hong Kong’s digital asset buying and selling platform license is Bybit.
Binance, Coinbase International and Kraken didn’t submit functions for a license.
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