Coinspeaker
Crypto Exchange HKbitEX Bags License in Hong Kong

Leading crypto exchange HKbitEX, has received licenses from the Hong Kong Securities and Futures Commission (SFC) under the Securities and Futures Ordinance (SFO) for regulated activities.

This approval is a huge achievement for HKbitEX as its parent company, Taiji Capital Group Co Ltd, becomes the first digital financial group to obtain a full virtual asset license under the new virtual asset trading platform operator licensing scheme in Hong Kong.

Implications of the Virtual Asset License to HKbitEX

As revealed in a local news media report, the licenses approved by Hong Kong regulators include those for Type 1 (dealing in securities) and Type 7 (providing automated trading services). Through the approval, HKbitEX can now offer automated trading and over-the-counter services for cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). This is in addition to offering users convenient options to convert their digital assets to fiat currencies.

Furthermore, HKbitEX will also extend automated trading services for the group’s tokenized products (Security Tokens) after receiving approval for token listing from the Hong Kong Securities and Futures Commission. This action is expected to provide an easy, efficient, and compliant trading market for Hong Kong’s financia...