Binance-linked HKVAEX is still preparing to apply for a license in Hong Kong.
Hong Kong cryptocurrency exchange HKVAEX has not applied for a virtual asset trading platform license with the Hong Kong Securities and Futures Commission (SFC), an HKVAEX spokesperson said.
Amid several reports incorrectly stating that HKVAEX has applied for a license from the SFC, a HKVAEX representative said the crypto exchange has not yet applied.
A representative of HKVAEX told Cointelegraph on November 27, “We are still preparing for the implementation.” The spokesperson emphasized that HKVAEX should not be confused with VAEXC, which applied for a crypto license in Hong Kong on October 25. to SFC data.
“VAEXC is another indicator, and they have nothing to do with us,” HKVAEX representative said, the company is not affiliated with HKVAEX.
The news comes a few weeks after Hong Kong-based publication South China Morning Post (SCMP) reported that Binance was behind the HKVAEX exchange. According to SCMP sources, HKVAEX has been prepared by Binance to pursue a crypto license in Hong Kong. The HKVAEX website uses Binance servers to fetch content, the report said.
HKVAEX and Binance did not respond to Cointelegraph's request for comment on the alleged links between the platforms.
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According to information from the SFC, OSL Digital Securities and HashKey exchanges are the only two crypto trading platforms licensed as virtual asset trading platform operators as of November 27. In August 2023, OSL and HashKey became the first crypto exchange. Retail trading services for customers in Hong Kong under the country's new crypto regulations.
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