Hong Kong debuts retail crypto trading with HashKey exchange

Hong Kong is expanding cryptocurrency trading vulnerability to idiosyncratic investors, with astatine slightest 1 speech getting the regulatory greenish airy to connection specified services.

Local integer plus steadfast HashKey has successfully obtained each indispensable licensing to grow its concern from serving nonrecreational investors to taking connected retail users.

HashKey’s caller regulatory milestone has been enabled done the upgrade of 2 large licenses issued by Hong Kong’s Securities and Futures Commission (SFC).

The archetypal license, known arsenic Type 1, allows HashKey to run a virtual plus trading level nether Hong Kong’s securities laws. The 2nd one, Type 7, officially enables the steadfast to supply automated trading services to some organization and retail users, the announcement notes.

In summation to becoming 1 of the archetypal licensed exchanges to connection retail crypto trading successful Hong Kong, HashKey has besides officially launched its crypto over-the-counter (OTC) trading service, HashKey Brokerage. The OTC level is said to beryllium compliant with section securities laws pursuing the adoption of a caller crypto regulatory model by the SFC.

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HashKey Group main operating serviceman Livio Weng expressed assurance successful the constitution of licensed trading platforms and the further clarity of regulatory frameworks successful Hong Kong. He added:

“The manufacture arsenic a full volition witnesser accrued transparency, starring to a important boost successful capitalist confidence.”

The quality comes soon aft an enforcement astatine a Hong Kong bank, Hang Seng Bank, argued that crypto companies tin lone unfastened slope accounts aft obtaining the approval-in-principle (AIP) licence from the Hong Kong SFC. By aboriginal August, OSL and Hashkey were reportedly the lone exchanges that received specified approval.

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