Key takeaways:
OKX has established a Hong Kong entity to introduce virtual asset services
For more than a year, the exchange has been developing its plans, and it is now completely ready to submit its VASP application in compliance with all legal requirements.
The well-known cryptocurrency exchange OKX revealed the opening of its Hong Kong branch. In accordance with the Securities and Futures Ordinance, the newly created OKX entity will file for virtual asset service provider (VASP) licences.
The exchange plans to submit applications for the Type 1 & 7 licences under the Securities and Futures Ordinance as well as the Virtual Asset Service Provider (VASP) licence under the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022, which is due to go into effect on 1 June 2023.
At the forefront of innovation and regulation, we're excited to announce the launch of our Hong Kong entity! As we continue our mission to shape the future of the virtual asset industry, we plan to apply for licenses in Asia's world city.
License.
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