Asia-based cryptocurrency platform Hashkey has announced that it has received a license to expand its operations in Hong Kong.
HashKey Exchange announced that it has acquired a license in Hong Kong with the goal of becoming a global crypto hub. The Asia-based platform, which provides various services related to the crypto industry, applied to the Virtual Asset Service Provider on June 1. As of today, the response has been positive for Hashkey and Hong Kong. With this development, the company has upgraded its type1 and type7 licenses.
Hong Kong influence in the crypto ecosystem
Hong Kong authorities issued a policy statement on cryptocurrencies in October in an effort to strengthen its position as a financial hub. In December, the Hong Kong Legislative Council passed an amendment introducing a full licensing regime for virtual asset service providers.
According to the new rules, crypto trading platforms must obtain a license to serve investors in the city. A Hong Kong government study published in June cited concerns about Hong Kong’s lagging behind East Asia and the Gulf in Web3 development.
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