source: unsplash.com
- HashKey and OSL, Hong Kong crypto exchanges, are now approved for retail crypto trading.
- HashKey upgraded licenses to offer virtual assets and automated trading services.
- HashKey introduces HashKey Brokerage for compliant OTC crypto trading.
Hong Kong’s cryptocurrency trading landscape is evolving as HashKey, a local digital asset company, receives regulatory approval to extend its services to individual investors.
On August 3rd, HashKey announced that it had acquired all the necessary licenses to transition from serving professionals to catering to retail users.
This development was made possible through the upgrade of two significant licenses issued by the Hong Kong Securities and Futures Commission (SFC).
The first license, Type 1, permits HashKey to operate a virtual asset trading platform within the bounds of Hong Kong’s securities laws. The second, Type 7, empowers the firm to provide automated trading services to institutional and retail clients alike.
HashKey has not only become one of the pioneers in licensed exchanges offering retail crypto trading in Hong Kong but has also launched HashKey Brokerage, a crypto over-the-counter (OTC) trading service. This OTC platform complies with local securities laws, aligning with the SFC’s newly adopted crypto regulatory framework.
Livio Weng, Chief Operating Officer of HashKey Group, expresses confidence in the emergence of licensed trading platforms and a more defined regulatory structure in Hong Kong.
He stated, “The industry as a whole will witness increased transparency, leading to a significant boost in investor confidence.”
Both HashKey and OSL, crypto exchanges in Hong Kong, have obtained legal approval to provide crypto trading services to retail users. OSL recently received an upgraded license from the SFC, permitting immediate retail trading of Bitcoin (BTC) and Ether (ETH).
OSL has been regulated for virtual asset trading by the SFC since 2020, and this new license enhancement enables them to offer digital asset access to retail investors.
