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Crypto Exchange OKX Pursues Virtual Asset Trading License in Hong Kong

OKX is seeking a virtual asset trading license in Hong Kong to strengthen its compliance measures and expand its presence in the Asia-Pacific region

Photo by Dan Freeman / Unsplash

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Leading cryptocurrency exchange OKX has applied for a virtual asset trading license from the Hong Kong Securities and Futures Commission (SFC), the South China Morning Post reported Tuesday.

OKX's name is on the recently updated list of virtual asset trading platform license applicants, and is working closely with regulators to meet the necessary regulatory requirements, the report said. Obtaining a virtual asset trading license would enable OKX to offer a broader range of digital asset services to its users in Hong Kong, increasing its credibility in the local market.

From F1 Tracks to Soda Racks: OKX’s Vision to Make Crypto as Ubiquitous as Coca-Cola
OKX is on a roll with its brand partnerships, counting Manchester City, McLaren and the Tribeca Film Festival, among others. All this feeds into its vision for its brand to be “like Coca-Cola.” OKX CCO Lennix Lai explains more.

This development underscores the growing importance of regulatory compliance in the cryptocurrency industry and OKX's dedication to adhering to regulatory frameworks in various jurisdictions. The exchange's efforts align with the broader trend of crypto exchanges seeking licenses and approvals to operate legally and securely in a rapidly evolving market.


Hong Kong Cracks Down on Worldcoin's Data Collection Practices

Hong Kong Cracks Down on Worldcoin's Data Collection Practices

Authorities found that Worldcoin failed to adequately inform users about the collection of their personal data and did not obtain their informed consent. Worldcoin also retained user data for extended periods beyond what was necessary and did not provide a Chinese translation of its privacy policy.