Hong Kong’s Markets Regulator Issues Warning Against Crypto Exchange Bybit
Hong Kong’s markets regulator identified Bybit as a suspicious cryptocurrency exchange and placed several of its products on its suspicious investment products list.
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Hong Kong’s markets regulator identified Bybit as a suspicious cryptocurrency exchange and placed several of its products on its suspicious investment products list.
Hong Kong’s securities regulators says HBGL Hong Kong Limited withdrew its application for a license on February 23.
Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox.
The statement from the SFC and HKMA comes as expectations mount the U.S. SEC is on the verge of approving a spot bitcoin ETF.
The publicly traded company joins crypto-native firms HashKey Exchange and OSL Digital Securities with a license.
The move comes a month after authorities in the City updated financial regulations to allow for retail investors to buy spot crypto ETFs.
The move appears to be another step in Hong Kong’s recently accelerated ambitions to become a virtual asset hub.