2024

Coin

<ul>
 <li>Hong Kong receives 22 license applications from crypto companies like OKX and Bybit to operate as digital asset exchanges.</li>
 <li>While Hong Kong closed the applications on February 29, leading players like Coinbase, Binance, and Kraken haven’t applied.</li>
 <li>The SFC asserts that the unlicensed crypto exchanges should be shut down by the end of May 2024.</li>
</ul>
Hong Kong has reportedly <a href="https://www.bloomberg.com/news/articles/2024-03-01/hong-kong-attracts-22-applicants-for-crypto-exchange-licenses" target="_blank" rel="noopener noreferrer nofollow">announced</a> the closure of receiving license applications from crypto companies on February 29. While Hong Kong received 22 applications from companies like Bybit, OKX, and Huobi to operate as crypto exchanges, leading players like Binance, Coinbase, and Kraken failed to apply.
The Securities and Futures Commission (SFC) <a href="https://www.sfc.hk/en/Welcome-to-the-Fintech-Contact-Point/Virtual-assets/Virtual-asset-trading-platforms-operators/Lists-of-virtual-asset-trading-platforms" target="_blank" rel="noopener noreferrer nofollow">asserted</a> that the crypto exchanges that haven’t applied for the license before the deadline should shut down their companies by the end of May 2024. In addition, the regulators reminded investors and traders to migrate to the licensed platforms. In a note, the SFC warned,
<blockquote class="wp-block-quote">
 Virtual asset trading platforms operating in Hong Kong which have not submitted their license applications to the SFC by 29 February 2024 must close down their businesses in Hong Kong by 31 May 2024. Invest…
</blockquote>
The post <a href="https://coinedition.com/hong-kongs-sfc-forces-unlicensed-crypto-exchanges-to-shut-down-by-may/" rel="noopener noreferrer nofollow">Hong Kong’s SFC Forces Unlicensed Crypto Exchanges To Shut Down by May</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Hong Kong’s SFC Forces Unlicensed Crypto Exchanges To Shut Down by May

Coin Edition

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