Hong Kong Gearing up to Approve More Cryptocurrency Exchange Licenses by Year End: SFC
HKVAX is the latest exchange to receive approval.
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Hong Kong
HKVAX is the latest exchange to receive approval.
Animoca Brands is hoping to go public soon but the final decision on the timeline is dependent on a key component, the “market’s status, amongst other” aspects, the Web3 giant’s chairman Yat Siu told CoinDesk in Singapore on Monday.
HSBC bank completed three proof of concepts in Hong Kong’s Ensemble sandbox.
Hong Kong’s Securities and Futures Commission (SFC) has found “unsatisfactory practices” at “some” of the cryptocurrency exchanges seeking a full license from it after conducting on-site inspections, Bloomberg reported on Thursday citing people familiar with the situation.
For the moment, only bitcoin and ether can be traded, while the company works on “expanding our crypto offerings in the near future.”
In March, the HKMA started a regulatory sandbox to give potential stablecoin issuers immunity in testing certain operations.
The exchange’s action follows that of Huobi Hong Kong and several other applicants earlier this month.
The pilot will also allow e-CNY wallets to pay retailers, but not person-to-person transfers.
Hong Kong (Ruslan Bardash / Unsplash)
Previous outflows hovered around the $6 million mark, signaling a significant uptick in negative flows on Monday.