Recent reports indicate that HashKey Group, a prominent Asian provider of financial services for digital assets, has been granted authorization by Hong Kong’s regulation authority, the Securities and Futures Commission, to commence an off-platform cryptocurrency trading operation.
The reports went on to claim that HashKey Group is the second exchange in Hong Kong to receive a compliance license.
Enhancing Client Experience with Top-Quality Digital Asset Products
With the license, HashKey can now provide OTC services to its customers for cryptocurrencies and other digital assets, including Bitcoin and Ethereum, further solidifying its position in the blockchain sector.
The certification also underscores HashKey’s commitment to providing consumers with a risk-free trading environment. SFC ensures that businesses under its control adhere to strict standards for openness, privacy, and authenticity.
On the other hand, HashKey’s Executive President Michel Lee is pictured expressing his appreciation for the Securities and Futures Commission’s clearance in a blog post on the company’s web page.
In addition, he asserted that HashKey’s OTC trading platform has been operational for some time, allowing it to amass substantial domain expertise. Thanks to this new license, HashKey will be able to expand its offerings to institutional investors and address the growing desire for trading virtual assets.
He wrapped up by saying that the impending release of HashKey PRO, an exchange for virtual assets that comply with applicable regulations, is an encouraging sign for the sector. Furthermore, regarding bolstering the company’s standing in the blockchain business, the exchange will also provide customers with a safe and transparent trading platform to transact virtual assets following applicable laws and standards.
CEO Zhong stresses the need to adhere to regulations
Notably, the CEO of HashKey Blockchain Limited (HBL), Colin Zhong’s remarked that regulatory compliance and transparency are crucial in the market for trading virtual assets. He added that HashKey Group’s parent business is aware of the possible effects of a controlled platform like HashKey PRO on the Hong Kong OTC market.
Zhong believes that the dedication of HashKey to improving investor trust might encourage more people to enter the market, ultimately leading to the widespread acceptance of cryptocurrencies.
In conclusion, this move by the SFC to grant an OTC trading license to HashKey is a positive development for the blockchain industry in Hong Kong, demonstrating the government’s commitment to fostering innovation and growth in this space.
As the company grows, its commitment to compliance and transparency remains a top priority. HashKey Group aims to establish itself as a globally recognized, fully compliant digital asset ecosystem, offering a secure and trusted platform for clients to trade virtual assets.
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