The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority issued a joint circular on Friday, 28 January, giving the financial-services industry the green light to do crypto business.
The VA license scheme was announced by SFC in 2020. So far, only OSL, which is operated by BC Technologies, has a VA license for dealing (it also has the only license for a VA exchange). Other blockchain companies such as HashKey and HKbitEX have submitted applications.
“This model is the one we’ve been expecting for years,” said Gary Tiu, executive director and head of regulatory affairs at BC Technologies Group.
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