1 year ago
Hong Kong’s securities watchdog, the Securities and Futures Commission (SFC) said that it’s going to people a database of crypto speech licence applicants successful the wake of the JPEX probe, which has led to aggregate arrests successful the territory.
“The JPEX incidental highlights the risks of dealing with unregulated virtual plus trading platforms (VATPs) and the request for due regularisation to support marketplace confidence,” the SFC said successful a connection Monday. “It besides shows that dissemination of accusation to the investing nationalist done the Alert List, warnings and capitalist acquisition tin beryllium further enhanced to assistance members of the investing nationalist amended recognize the imaginable risks entailed by suspicious websites oregon VATPs.”
Last week, Hong Kong's Chief Executive, John Lee, emphasized the necessity for crypto platforms to beryllium licensed by the SFC to support investors.
“We volition beryllium doing much nationalist acquisition for investors to cognize the risks,” helium said astatine the time.
Only OSL Digital Securities Limited and Hash Blockchain Limited person been awarded licenses.
According to the SCMP, four different companies person applied for licenses – HKVAX, HKBitEx, Hong Kong BGE Limited, and Victory Fintech Company Limited – but these are comparatively tiny and unknown. Many large crypto exchanges person not signaled their intent to go licensed successful Hong Kong.
Edited by Parikshit Mishra.
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