CoinEx launches BitHK buying and selling platform for Hong Kong customers

• BitHK will provide spot buying and selling and appears to launch a P2P change for Hong Kong customers.
• The change will submit an utility for registration as a VASP with the Hong Kong Securities and Futures Fee (SFC) on 1 June.
• One other change, Huobi HK can be providing spot buying and selling to Hong Kong customers and has submitted an utility from the SFC.

CoinEx, a crypto change platform that’s been in operation since 2017, has in the present day launched a brand new crypto buying and selling platform for customers in Hong Kong.

The brand new platform known as BitHK and is ready to roll out a number of crypto companies for CoinEx customers in Hong Kong.

Exchanges to hunt approval earlier than provide companies in Hong Kong

CoinEx’s launch of BitHK comes forward of the efficient date of the rules the Hong Kong regulators introduced not too long ago and which had been set to permit registered cryptocurrency exchanges to supply crypto buying and selling companies to retail buyers.

In keeping with a press launch CoinEx revealed on Monday, the platform will submit an utility for approval as a Digital Asset Service Supplier (VASP). The change plans to submit the appliance to the Securities and Futures Fee (SFC) on June 1.

“We’ll strictly observe the Code of Conduct for Cryptocurrency Exchanges not too long ago launched by the SFC and the Anti-Cash Laundering and Counter-Terrorist Financing (Modification) Invoice 2022. We’re devoted to delivering compliant, truthful, {and professional} companies whereas safeguarding our buyers’ property. Our objective is to determine a safe and dependable crypto buying and selling surroundings for Hong Kong customers,” Haipo Yang, CEO of CoinEx, mentioned in a press release.

BitHK customers can entry spot buying and selling and crypto storage companies, whereas CoinEx says it’ll quickly introduce P2P buying and selling and HKD transactions.

Huobi additionally publicizes Huobi HK 

Monday additionally one other crypto platform Huobi HK introduced its crypto companies to Hong Kong customers. In a tweeted assertion, the platform mentioned it will offer crypto spot buying and selling companies to each retail and institutional purchasers. 

Huobi HK utilized for Hong Kong’s VASP license on 29 Might, 2023, in accordance with the small print shared by way of the platform’s Twitter account. This follows Hong Kong’s current announcement that authorized exchanges can be allowed to supply crypto buying and selling to retail buyers, with main cash Bitcoin and Ethereum among the many first to be allowed.

In associated information, Binance not too long ago introduced it will be transitioning all of its customers in Japan to a brand new platform to be referred to as Binance Japan. The method started on 26 Might and can proceed via the summer season.