CoinEx, a cryptocurrency exchange company that has been in business since 2017, has now unveiled a fresh new crypto buying and selling platform for Hong Kong users. BitHK is a completely new platform that is set to launch a variety of crypto providers for CoinEx consumers in Hong Kong.
Exchanges will seek authorization before supplying suppliers in Hong Kong.
CoinEx’s launch of BitHK comes ahead of the effective date of the guidelines recently announced by Hong Kong authorities, which allow licensed cryptocurrency exchanges to provide crypto buying and selling services to retail traders.
According to a press release issued by CoinEx on Monday, the platform will apply for accreditation as a Digital Asset Service Supplier (VASP). The application will be submitted to the Securities and Futures Commission (SFC) on June 1.
“We will strictly adhere to the SFC’s recently released Code of Conduct for Cryptocurrency Exchanges as well as the Anti-Cash Laundering and Counter-Terrorist Financing (Modification) Bill 2022.” We are committed to providing compliant, honest, and professional services while protecting our traders’ assets. “Our goal is to create a safe and dependable crypto buying and selling environment for Hong Kong customers,” said Haipo Yang, CEO of CoinEx, in a news statement.
Huobi also promotes itself. Huobi Hong Kong
Huobi HK, another cryptocurrency platform, also launched its crypto services to Hong Kong consumers on Monday. In a tweet, the platform stated that it will provide crypto spot buying and selling services to both retail and institutional customers.
According to information provided on the platform’s Twitter account, Huobi HK applied for Hong Kong’s VASP license on May 29, 2023. This follows Hong Kong’s recent declaration that authorized exchanges may be permitted to provide crypto buying and selling to regular traders, with major currencies Bitcoin and Ethereum among the first to be permitted.
In related news, Binance just announced that it will be moving all of its clients in Japan to a fresh new platform called Binance Japan. The procedure began on May 26 and will go through the summer.
