HKVAEX Refutes Licensing Claims and Clarifies No Link with Binance
Summary:
A spokesperson from the Hong Kong-based digital currency exchange, HKVAEX, has confirmed that they have yet to apply for a license from the city's Securities and Futures Commission. This statement comes after reports incorrectly stated that the company had done so. The representative also emphasized that HKVAEX should not be mistaken for VAEXC, another firm that did apply for a similar license. Misinformation around this matter has been circulating after the South China Morning Post suggested that HKVAEX was linked to the global crypto-exchange Binance.
A representative from the Hong Kong virtual currency exchange, HKVAEX, has clarified that the company has not yet sought a license for a virtual asset trading platform from the Securities and Futures Commission (SFC) of Hong Kong. This clarification comes in light of several misleading reports implying that HKVAEX has made such a request. The company confirmed they are still working on the application.
It was also underscored that HKVAEX should not be mistaken with VAEXC, a separate entity who submitted an application for a cryptocurrency license to the SFC on October 25. The spokesperson clarified that VAEXC has no affiliations with HKVAEX.
This announcement came some weeks after the South China Morning Post, a publisher based in Hong Kong, suggested that the globally recognized crypto-exchange Binance initiated HKVAEX to chase a digital currency license within the city. Quoting unidentified sources, the SCMP further alleged that HKVAEX’s website pulls content via Binance servers.
HKVAEX and Binance have not provided comments regarding the purported links between the two entities.
As per official records of the SFC, only OSL Digital Securities and HashKey exchanges have been granted the status of licensed platform operators for virtual asset trading as of November 27. Both OSL and HashKey started offering cryptocurrency trading services to Hong Kong’s public in August 2023 under the city's updated digital currency regulations.
Published At
11/27/2023 1:14:52 PM
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