Crypto exchange BitMEX announced that it's preparing to apply for the virtual asset service provider (VASP) license under Hong Kong's Securities and Futures Commission (SFC) Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022, which is scheduled to take effect on June 1st, 2023. As part of the preparation, BitMEX will release BitMEX Hong Kong, a dedicated service platform for Hong Kong users, on May 29th.
BitMEX Hong Kong is a mobile app that provides 11 spot trading pairs and over 30 cryptocurrencies for purchase to verified Hong Kong users. Current BitMEX users in Hong Kong will be automatically transferred to BitMEX Hong Kong from May 29th.
Stephan Lutz, Acting CEO and Group CFO at BitMEX, said, "Historically Hong Kong has not just been one of the most popular breeding grounds for crypto innovations, but it is also where our founders first met and conceived of BitMEX. We believe the SFC's regulatory framework marks a significant milestone for our industry as it will provide standards for virtual assets that are crucial for this fast-growing asset class. We are delighted to see the administration's commitment to building a Web3 digital economy, one that begins with establishing clear guardrails and regulations. We are optimistic that Hong Kong will achieve its ambition of becoming a world-leading Web3 role model city and potentially the Web3 hub for China in years to come."
TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email firstname.lastname@example.org. Your trust will be well respected.
Policy and Regulation