HashKey Empowers Retail Investors with Exciting Crypto Trading Launch in Hong Kong, August 2023

HashKey became one of the first authorized exchanges in Hong Kong to provide cryptocurrency trading for amateur investors.

Individual investors have more exposure to cryptocurrency trading in Hong Kong thanks to at least one exchange receiving regulatory approval to provide the services.

HashKey, a local provider of digital assets, has successfully gotten all essential licenses to broaden its clientele from professional investors to ordinary customers.

By upgrading two significant licenses given by Hong Kong’s Securities and Futures Commission (SFC), the platform has reached a new regulatory milestone.

They can run a virtual asset trading platform under Hong Kong’s securities rules thanks to the Type 1 license.

According to the statement, the second one, Type 7, formally permits the company to offer automated trading services to institutional and retail consumers.

The platform has officially started its over-the-counter (OTC) trading service for cryptocurrencies, known as HashKey Brokerage, and has also become one of the first licensed exchanges in Hong Kong to allow retail crypto trading.

Following the SFC’s acceptance of a new legal framework for cryptocurrencies, it is claimed that the OTC platform complies with regional securities regulations.

Livio Weng, the chief operating officer of HashKey Group, expressed optimism about the development of licensed trading platforms and the increased clarity of Hong Kong’s regulatory frameworks. Added him:

“The industry as a whole will witness increased transparency, leading to a significant boost in investor confidence.”

The announcement follows an argument made by a Hang Seng Bank executive in Hong Kong that cryptocurrency businesses can only create bank accounts after receiving an approval-in-principle license from the SFC. OSL and Hashkey were the only exchanges with clearance by the beginning of August.