OKX Hong Kong Applies for Crypto Trading License with SFC Amid Industry Scrutiny
by Fintech News Hong Kong November 21, 2023Cryptocurrency exchange OKX Hong Kong Limited has submitted an application for a virtual asset trading platform (VATP) license with the Securities and Futures Commission (SFC) of Hong Kong.
The SFC had previously announced that it will publish the names of VATPs that have applied for a license in the wake of the JPEX fiasco in a bid to alert investors at an earlier stage in a bid to be transparent.
The exchange was one of the first to declare interest to apply for the retail crypto license when the Hong Kong regulator announced plans to regulate the space.
The application was made on 16 November, and OKX is the first offshore exchange to disclose its formal application for a Hong Kong compliance license according to Chinese journalist Colin Wu.
The SFC website currently lists seven companies as VATP applicants, including OKX, Hong Kong Digital Asset EX Limited, Hong Kong Virtual Asset Exchange Limited, Victory Fintech Company Limited, Meex Digital Securities Limited, Panthertrade (Hong Kong) Limited, and Hong Kong BGE Limited.
OKX’s application for a VATP license comes amid growing regulatory scrutiny of the cryptocurrency industry in Hong Kong.
