Hong Kong, 21 February 2024
At OKX, we believe that the global virtual asset ecosystem of the future will be regulated, and we're committed to doing our part to nurture this growth.
As part of our global licensing strategy, OKX Hong Kong FinTech Company Limited (OKX HK) was set up on 10 February 2023 in preparation of applying for the relevant virtual asset licenses and providing virtual asset services to the Hong Kong market.
Consistent with our commitment to provide clear communication to our users, we would like to provide an update on OKX HK's licensing application to the market and to clarify any prior media reports or statements in relation to OKX HK.
On 16 November 2023, OKX HK filed its application with the Securities and Futures Commission (SFC) for (i) the Virtual Asset Service Provider (VASP) licence under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), and (ii) Type 1 (dealing in securities) & Type 7 (Automated Trading System) licences under the Securities and Futures Ordinance (SFO).
OKX HK has been included in the SFC's list of virtual asset trading platform applicants since 20 November 2023, as one of the VATPs currently operating in Hong Kong and that has submitted its licence applications to the SFC on or before 29 February 2024. OKX HK is not currently a SFC-licensed virtual asset trading platform (VATP) and its licence application is under review by the SFC.
Okcoin Technology Company Limited (Okcoin TCL), an affiliate of OKX HK, has ceased to support virtual asset trading features on okcoin.com or the OKCoin app since 12 October 2023. It no longer accepts sign-ups by new users, and only supports existing registered users to login and withdraw any remaining balance. Okcoin TCL intends to cease operations soon.
To echo SFC's recent reminder to Hong Kong investors on 5 February 2024, we would reiterate the importance for investors to make informed decisions on which VATPs to trade on, by checking VATPs' licensing statuses against the SFC's official lists of virtual asset trading platforms.
Hong Kong's VATP licensing regime is one of the world's most robust and comprehensive virtual asset trading frameworks, with high standards on par with the traditional finance industry.
We look forward to continuing to work with the SFC to advance OKX HK's licence application, with the objective of contributing towards making Hong Kong one of the leading hubs for the global virtual asset industry.
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