HKbitEX

🚀 HKbitEX Receives Approval-In-Principle For Virtual Asset Trading Platform (SFC Type 1 & 7) Licences 🚀 HKbitEX (Hong Kong Digital Asset Ex Limited) has received the approval-in-principle for the Virtual Asset Trading Platform Type 1 (dealing in securities) and Type 7 (providing automated trading services) regulated activities under the Securities and Futures Ordinance (SFO) from the Hong Kong Securities and Futures Commission (SFC). Tykhe Capital Group Limited, the parent company of HKbitEX, has become the first digital finance group to obtain full virtual asset licences under the new VASP licensing regime in Hong Kong.

🚀 HKbitEX 獲香港虛擬資產交易平台一、七號牌 (VATP) 原則性批准 🚀 HKbitEX (香港數字資產交易集團有限公司) 今日獲香港證監會依據《證券及期貨條例》（SFO）發出第1類受規管活動（證券交易）及第7類 受規管活動（提供自動化交易服務）虛擬資產交易平台（VATP）牌照原則性核准。 HKbitEX 母公司太極資本集團有限公司 Tykhe Capital 成為新虛擬資產交易平台營運者發牌制度下，首個虛擬資產全牌照數字金融集團。

Check out our Weekly Market Updates! In the Spotlight 💡 1️⃣ Crypto-mining stock Marathon Digital falls in price despite posting a profit in 4Q 2023 2️⃣ Institutions have shifted its favour towards Ethereum when it comes to asset allocation 3️⃣ Hong Kong attracts 22 applicants for crypto exchange (VATP) permits, with Binance and Coinbase absent from the list Read More:

喜報！高寒博士獲任香港工商總會會長 香港數字資產交易所 (HKbitEX) 執行長暨太極資本集團有限公司 (Tykhe Capital) 主席高寒 Han Gao 博士，獲任香港工商總會 第十八屆會董會 會長。 香港工商總會創於1973年，成立五十餘載，匯集各界菁英。高寒博士履新後將攜會長 – 全國人大代表，銅紫荊星章，太平紳士王庭聰先生及主席 – 全國政協，銀、銅紫荊星章，太平紳士江達可博士，帶領 10 個分會和 6 個團隊，近二萬名會員共建香港和諧社會，推動經濟發展。 去年九月，香港行政長官李家超先生出席香港工商總會第十八屆會董會聯歡晚會，致辭寄望香港工商總會能為香港及國家繁榮穩定貢獻力量，反映港府及中央對香港工商總會寄予厚望。 高寒博士自 2018 年創立太極資本以來，致力於發展數字金融新生態，輔以區塊鏈和合規 Web3 技術，支持實體經濟發展。高寒博士履任後將持續發揮香港在數位經濟政策的先驅優勢，在香港工商總會的支持下，推動香港成為新 Web3 時代的國際資產管理中心。

Check out our Weekly Market Updates! In the Spotlight 💡 1️⃣ Chainlink exec says leading banks have begun tokenizing real world-assets 2️⃣ Hong Kong’s crypto futures ETFs experience peak performance amid bitcoin rally  3️⃣ Hong Kong Monetary Authority issues guidance to authorized institutions on custody of digital assets, including tokenized products Read More:

Check out our Weekly Market Updates! In the Spotlight 💡 1️⃣ Valkyrie ‘doesn’t see a need’ to make bitcoin ETF wallet addresses public 2️⃣ 700% Gains Coming? Why Some See Ethereum ETH Price Hitting $20,000 3️⃣ SFC reminds crypto investors to be wary of unlicensed platforms in final month to apply under Hong Kong scheme Read More:

Watch the clip here: https://lnkd.in/g56TVXfJ Our legal director Ronald Leung on Now TV News talked about the regulatory landscape in Hong Kong after introducing a new licensing regime this month. Coming amid a flurry of activity in Hong Kong including the new guidelines for the crypto industry on June 1, the Hong Kong government stole the spotlight again by pressuring banking giants to accept crypto clients. As the HKSAR central bank and regulator, Hong Kong Monetary Authority (HKMA) has reportedly put pressure on major banks like HSBC and Standard Chartered Bank to accept crypto exchanges as clients. (News: Financial Times, https://lnkd.in/ei5iz7fu) Meanwhile, in the West, the US government's lawsuits against crypto giants in the industry show a striking contrast. Hong Kong is taking the initiative to attract crypto players. Would it be the catalyst for the next bull run?

It's on the calendar🔥📅 "The revised proposed regulatory requirements will become effective on 1 June 2023." The Securities and Futures Commission (SFC) in Hong Kong announced that it will soon allow licensed platforms to serve retail investors. The Guidelines for Virtual Asset Trading Platform Operators will become effective on 1 June 2023. With strong support received, the SFC will allow these platforms to serve retail investors and, meanwhile, implement robust investor safeguards covering suitability and token admission criteria. According to the announcement during the consultation period, the SFC received 152 written submissions from within the industry. The SFC welcomes licence applications from operators of virtual asset trading platforms prepared to comply with its standards. Others not planning to do so should proceed to an orderly closure of their business in Hong Kong. https://lnkd.in/geasTxsD #digitalassets #virtualassets #VASP #hongkong #sfc #regulation

📢Register here: https://lnkd.in/gCpeQYdY Hong Kong is certainly doubling down its efforts to welcome and regulate crypto - regulators were convening a meeting between crypto firms and bankers to ease financing for the rising sector, and Hong Kong has proposed a new legal regime to allow retail investors to trade certain digital assets on licensed exchanges. The upcoming seminar organized by the Association of Blockchain Development, HKU-iCube, and HKUGA discuss aspects of "Retail Virtual Asset Trading in Hong Kong and its Implications". Our CSO Ken Lo is also invited to the discussion shaping the future of crypto trading in Hong Kong. Don't Miss Out! #crypto #VirtualAssets #HongKong #Blockchain #Web3 #SFC #HKbitEx #Regulation