JPEX announced that it plans to apply for the latest cryptocurrency trading license issued by the Hong Kong SAR government.
On February 20, the Hong Kong Securities Regulatory Commission announced that it would provide information to the market on “whether licensed platform operators should be allowed to provide services to retail investors” and “how to protect investors”. JPEX hopes that the new policy direction will be crypto The currency industry lays a new milestone. Once the application is approved, some of the services that JPEX will provide to clients in Hong Kong include but are not limited to spot trading, derivatives and other services such as staking.
JPEX is now in full swing for preparations for applying for a Hong Kong cryptocurrency trading license after being previously given up several times due to the Hong Kong government’s restrictions on the cryptocurrency industry. Previously, the Hong Kong government restricted crypto investment transactions to users with portfolios of at least HK$8 million ($1 million). However, since Hong Kong is an international financial center, with the emerging financial services, including virtual asset services and global innovators engaged in the cryptocurrency industry, they are becoming more and more open and inclusive, regardless of whether the assets held by transaction users are high or low. The impact of previous policies has made it difficult for most retail investors to participate in virtual asset transactions.
We will implement the inspection platform system to prepare for the early application of new regulatory policies, ensure compliance with relevant transaction standards and regulations, and ensure successful applications to provide customers with better services. The Hong Kong Securities Regulatory Commission’s active measures to regulate virtual assets indicate that the SAR government is open to the financialization of virtual assets, and JPEX will continue to pay attention to relevant positive information. And discuss the feasibility in depth with the internal legal affairs to advance the application process.