CDS Crypto News Bybit License Application: Company Wants to Operate in Hong Kong
Crypto News

Bybit License Application: Company Wants to Operate in Hong Kong

The Bybit license application was announced by the exchange.

389
Bybit License Application: Company Wants To Operate In Hong Kong

Crypto News – A statement from cryptocurrency exchange Bybit stated today that the business has applied for a license in Hong Kong to function as a “virtual asset trading platform.”

Bybit License Application: Company Wants to Operate in Hong Kong

Bybit filed its licensing application through Spark Fintech Limited on Wednesday, according to the website of the Hong Kong Securities and Futures Commission. According to their website, OKX, one of the 14 cryptocurrency companies whose application was submitted on November 16, is among those formally being reviewed by the financial authority.

Obtaining a VATP license in Hong Kong is a significant step for Bybit. The city’s strategic location and established financial infrastructure make it an ideal base for our operations and institutional clients, serving the Asia Pacific region.

the exchange

Hong Kong Prepares to Support ETFs as Well

In contrast to the wider crackdown on cryptocurrency mining and trading on the Chinese mainland, Hong Kong welcomed cryptocurrency companies last year. Hong Kong’s cryptocurrency licensing program for virtual asset trading platforms went into effect in June 2023, enabling approved exchanges to provide retail trading services. These licenses have only been given by Hong Kong to two platforms: HashKey and OSL. Additionally, Hong Kong is getting ready to open up exchange-traded funds (ETFs) for spot cryptocurrency.

Bybit License Application: Company Wants To Operate In Hong Kong 151699
Written by
lectertodd

Lectertodd is 28 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Stock Market Downturn and Bitcoin’s Struggle: Why Digital Gold Isn’t Holding Up

The U.S. stock market is bracing for a potential decline, but Bitcoin...

X Platform Cyberattack: How Musk’s DOGE Ministry is Impacted by the Crisis

Elon Musk confirmed that the X social media platform was hit by...

Worst Ethereum Weekly Outflow: Are Smart Investors Buying the Dip?

For more comprehensive information on the worst Ethereum weekly outflow, please visit...

Next Mega Bitcoin Rally? Bold Monte Carlo Forecast Ignites Market Hype

For more comprehensive information on the next mega Bitcoin rally and BTC's...