Crypto firms' interest in Hong Kong skyrockets with launch of $100 million fund HongKong crypto cryptocurrency
- Following recent reports of an uptick in crypto-related activity in Hong Kong, which is taking place with tacit approval from regulators in China, the special administrative region could potentially issue virtual asset trading licenses to at least eight cryptocurrency-related firms by the end of this year.
Under the new regime, all virtual asset trading platforms doing business in Hong Kong or actively marketing to investors in the region will need to be licensed by the SFC. It also allows retail investors to access crypto trading services for certain large-cap tokens, such as Bitcoin and Ether . This includes the Seychelles-based OKX cryptocurrency exchange, which announced on Tuesday that it set up an office in Hong Kong and will apply for virtual asset licenses to operate digital asset services in the city.
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