Bixin Applies for Crypto Exchange License With Hong Kong SFC

Bixin Applies for Crypto Alternate License With Hong Kong SFC

Digital asset trading platform Bixin has utilized for a license with Hong Kong Securities and Futures Price. To this point, 13 crypto firms absorb utilized for the identical license with the Hong Kong regulator.

As per the official SFC web web page, virtual asset trading platform Bixin, operated by NewBX Restricted, utilized for a crypto substitute license with the regulator on Jan 24, 2024. In the in the intervening time, OSL and HashKey are the true two licensed crypto exchanges in Hong Kong.

One of the opposite candidates who absorb utilized for the crypto substitute license in Hong Kong encompass OKX Hong Kong, Hong Kong Digital Asset Alternate Restricted, and Meex Digital Securities Restricted.

Hong Kong has ramped up regulatory efforts post the $182 million JPEX scandal where over two dozen suspects were arrested.

Hong Kong plans to amend regulations to incorporate OTC trades

In the midst of his speech at the Asian Monetary Discussion board, Chan Ho-Lin, the Deputy Secretary for Monetary Products and providers and the Treasury, emphasized the authorities’ active position in fostering the increase of virtual sources and the third-generation Internet ecosystem, local media reported.

He introduced plans to amend regulations, enabling the over-the-counter substitute of virtual sources, with these trading actions falling throughout the purview of supervision.

Chan also famed that the authorities is engaged on making certain that the regulatory intention effectively manages and mitigates both staunch and likely dangers linked to virtual sources. Simultaneously, the aim is to provide a clear and predictable regulatory atmosphere to enhance the commerce’s construction, he added.

Source : cryptonews.com