Hong kong

Cryptocurrency exchange HKVAEX, reportedly linked to Binance, has clarified that it has not yet applied for a virtual asset trading platform license with the Securities and Futures Commission (SFC) in Hong Kong. A spokesperson for HKVAEX emphasized that they are currently in the preparation stage for the application and have not submitted it yet. The representative also highlighted that HKVAEX should not be confused with VAEXC, another crypto platform that applied for a license in Hong Kong on October 25, according to SFC data. The clarification comes amid reports suggesting that Binance is behind HKVAEX and is seeking a crypto license in Hong Kong. The exchange denied any links with Binance and stated that VAEXC is a separate applicant with no connection to HKVAEX.

Background:

  • HKVAEX, a Hong Kong-based cryptocurrency exchange, has clarified that it has not yet applied for a virtual asset trading platform license with Hong Kong’s Securities and Futures Commission (SFC).
  • The clarification comes in response to reports suggesting that HKVAEX, reportedly linked to Binance, had applied for an SFC license.
  • An HKVAEX spokesperson emphasized that the exchange is still in the preparation stage for the license application and has not submitted it.
  • The spokesperson also highlighted that HKVAEX should not be confused with VAEXC, which applied for a crypto license in Hong Kong on October 25, according to SFC data.
  • Reports had earlier suggested that Binance was behind HKVAEX and had set it up to pursue a crypto license in Hong Kong.

Notable Quote: “We are still preparing for the application at the moment. VAEXC is another applicant, and they have nothing to do with us.” – HKVAEX representative.

Impact on the Crypto Market:

  • The clarification adds to the ongoing developments in the regulatory landscape for cryptocurrency exchanges in Hong Kong.
  • Binance and its affiliated platforms have faced increased scrutiny from regulators worldwide, prompting adjustments and clarifications from the entities associated with the exchange.

By Habib Rahman

My professional background is in public relations and I am the founder of Cryptochating. My journey into blockchain technology started four years ago, and I haven't looked back since then. The future of decentralized technology is incredibly fascinating to me, and I am passionate about communicating how it will change the world.

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