HKVAEX Clarifies They Have Not Applied for Virtual Asset Trading Platform License

Hong Kong cryptocurrency exchange HKVAEX has clarified that they have not applied for a virtual asset trading platform license with Hong Kong’s Securities and Futures Commission (SFC), contrary to multiple reports suggesting otherwise.

A spokesperson for HKVAEX stated that the exchange is still in the process of preparing their application. They emphasized that HKVAEX should not be confused with VAEXC, another applicant that has applied for a crypto license in Hong Kong.

The spokesperson further clarified that HKVAEX has no affiliation with VAEXC and urged not to associate the two entities together.

Recent reports had claimed that Binance was behind HKVAEX and that the exchange was established by Binance to pursue a crypto license in Hong Kong. The reports also alleged that HKVAEX’s website utilizes Binance servers for content fetching. However, both HKVAEX and Binance have not commented on these allegations.

As of November 27, the only two licensed virtual asset trading platform operators in Hong Kong, according to the Securities and Futures Commission, are OSL Digital Securities and HashKey exchanges. These two exchanges were the first to offer crypto trading services to retail customers in Hong Kong under the country’s new crypto regulations.

It is important to note that HKVAEX has not applied for a virtual asset trading platform license at this time, and any claims suggesting otherwise are inaccurate.

Source: Cointelegraph