• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

What Is Proof-of-Work (PoW) in Blockchain? A Beginner-Friendly Guide

2025-05-12

Bitcoin Nodes, Censorship, and Big Blockheads

2025-05-12

💼 The Investing Game Has Changed! 🌐🚨

2025-05-11

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Proof-of-Work (PoW) in Blockchain? A Beginner-Friendly Guide

    2025-05-12

    What is Proof-of-Authority (POA) Consensus in Blockchain?

    2025-05-09

    What Is Proof-of-Stake (PoS)? Guide to Blockchain Consensus for Beginners

    2025-05-09

    What is a Layer-1 (L1) Blockchain? L1 Problems & Future

    2025-05-03

    What is a Layer-2 (L2) Blockchain Solution? Types & Problems They Solve

    2025-05-02
  • Videos

    Bitcoin Nodes, Censorship, and Big Blockheads

    2025-05-12

    💼 The Investing Game Has Changed! 🌐🚨

    2025-05-11

    Solana’s Path to $1000 Starts Here — Don’t Miss This Update

    2025-05-11

    Bitcoin Just Broke Out – Is the Bull Run BACK?!

    2025-05-10

    Bitcoin Back To The Races

    2025-05-09
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Regulation»OKX becomes latest exchange to apply for Hong Kong VASP license
Regulation

OKX becomes latest exchange to apply for Hong Kong VASP license

2023-03-28No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Belgium to introduce new crypto ad regulation
Share
Facebook Twitter LinkedIn Pinterest Email

Ad

CoinDesk Consensus

Cryptocurrency exchange OKX intends to apply for a Virtual Assets Service Provider (VASP) license to operate in the city-state, according to a March 28 press release.

OKX is the latest crypto firm to look to set up shop in Hong Kong after the country’s pivot to a more crypto-friendly stance. The exchange’s General Counsel Bing Zhao said:

“OKX has an ambitious vision when it comes to pursuing licenses in relevant and appropriate jurisdictions, and we are committed to working with the SFC throughout the application process.”

OKX’s plans

The exchange’s managing director of global institutional Lennix Lai said Hong Kong has “immense potential” for crypto firms and OKX intends to work with regulators on “building the local ecosystem” over the next five years.

The exchange has been working on its plans for more than a year now and is fully prepared to meet all regulatory requirements for its VASP application.

According to a South China Morning Post report, OKX will set up two entities in the city-state called Hong Kong Fintech Company Limited and Hong Kong Custody Limited to handle its various operations. The former will apply for brokerage and exchange licenses, while the latter will apply for licenses that allow it to hold and custody assets.

Hong Kong’s crypto regulatory regime

Hong Kong intends to legalize crypto trading for retail investors on June 1 and has been working on setting up a regulatory regime for the industry over the past few months.

The regime includes the VASP license to allow crypto exchanges to operate in the country with full authorization. Without the license, firms will not be allowed to offer services to retail investors.

See also  Coinbase Files Motion To Dismiss SEC Case Against the Crypto Exchange

A number of exchanges are looking to move to Hong Kong in some capacity once the regulatory framework comes into effect and some are already in the process of securing the necessary approvals.

Meanwhile, regulators are working on establishing banking relationships for crypto firms that adhere to its stringent KYC and AML requirements, according to a Bloomberg News report.

The event will take place on April 28 and will be led by the Hong Kong Monetary Authority and the Securities and Futures Commission.

The two regulators are in charge of supervising stablecoins and cryptocurrency exchanges.

Posted In: Exchanges, Regulation
Apply Exchange Hong Kong Latest license OKX VASP
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Top Crypto Exchange CoinEx Has Huge Offer The Best Place To Buy Crypto As Bull Market Returns!

2025-04-04

The Safest Crypto Exchange? 🤔

2025-02-11

The Next 50X Meme Coin! Pepe Unchained Tier 1 Exchange Listing Incoming!

2024-11-16

BloFin Crypto Exchange HONEST review and Bonus Code – No KYC!!

2024-10-23
Add A Comment

Leave A Reply Cancel Reply

Top Posts
DeFi

How Damaging Was the Euler Hack to DeFi’s ‘Money Legos’ Promise?

2023-03-18

DeFi Decrypting DeFi is Decrypt’s DeFi email newsletter. (art: Grant Kempster) DeFi faced its very…

Bitcoin

Odds of Bitcoin ending 2023 with a red price chart

2023-12-29

Journalist Posted: December 29, 2023 Bitcoin’s price only moved marginally in the last 24 hours.…

Bitcoin

Bitcoin trails behind the S&P 500 as ETF hype fizzles out

2024-01-27

S&P 500 trends over Bitcoin. BTC attempts recovery as it goes over $40,000. In recent…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

What Is Proof-of-Work (PoW) in Blockchain? A Beginner-Friendly Guide

2025-05-12

Bitcoin Nodes, Censorship, and Big Blockheads

2025-05-12

💼 The Investing Game Has Changed! 🌐🚨

2025-05-11

Solana’s Path to $1000 Starts Here — Don’t Miss This Update

2025-05-11
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 102,880.56
ethereum
Ethereum (ETH) $ 2,467.59
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.50
bnb
BNB (BNB) $ 649.93
solana
Solana (SOL) $ 171.71
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.22461
cardano
Cardano (ADA) $ 0.793174
tron
TRON (TRX) $ 0.262443
bitcoin
Bitcoin (BTC) $ 102,880.56
ethereum
Ethereum (ETH) $ 2,467.59
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.50
bnb
BNB (BNB) $ 649.93
solana
Solana (SOL) $ 171.71
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.22461
cardano
Cardano (ADA) $ 0.793174
tron
TRON (TRX) $ 0.262443