CoinEx, a well-established cryptocurrency exchange platform, has launched a new trading platform called BitHK specifically catering to users in Hong Kong. BitHK aims to provide a range of crypto services to CoinEx users in the region. In anticipation of new guidelines announced by Hong Kong regulators, which would permit registered cryptocurrency exchanges to offer crypto trading services to retail investors, CoinEx plans to seek approval as a Virtual Asset Service Provider (VASP). The exchange intends to submit its application to the Hong Kong Securities and Futures Commission (SFC) on June 1.
CoinEx and Huobi HK: Leading the Way in Compliant Crypto Trading Services for Hong Kong Users
CoinEx is committed to adhering to the recently released Code of Conduct for Cryptocurrency Exchanges by the SFC, as well as the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022. Haipo Yang, the CEO of CoinEx, emphasized the platform’s dedication to providing compliant, fair, and professional services while prioritizing the protection of investors’ assets. BitHK users will initially have access to spot trading and crypto storage services, with plans to introduce peer-to-peer (P2P) trading and Hong Kong dollar (HKD) transactions in the near future. In a similar vein, Huobi HK, another cryptocurrency platform, also announced its intention to offer crypto spot trading services to Hong Kong users, including both retail and institutional clients. Huobi HK has already applied for Hong Kong’s VASP license, with the application submitted on May 29, 2023. This move comes in response to Hong Kong’s recent decision to allow approved exchanges to facilitate crypto trading for retail investors, starting with prominent cryptocurrencies such as Bitcoin and Ethereum.
The entry of CoinEx and Huobi HK into the Hong Kong market with their new crypto trading platforms will benefit traders residing in Hong Kong and the APAC region by providing them with compliant, secure, and professional crypto trading services. The platforms’ commitment to adhering to regulatory guidelines ensures that traders can operate within a regulated framework, enhancing investor protection and promoting market integrity.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments. This is a news article only.
