A representative from the Hong Kong-based cryptocurrency exchange HKVAEX clarified that the platform has not yet initiated the process of applying for a virtual asset trading platform license from the Hong Kong Securities and Futures Commission (SFC). Despite various reports suggesting otherwise, the exchange has not officially submitted its application for the license, as confirmed by HKVAEX representatives.
Addressing the misconceptions around their license application status, an HKVAEX spokesperson emphasized their ongoing preparations, stating, “We are currently still preparing the application.” It's important to note that HKVAEX should not be confused with VAEXC, another entity that submitted an application for a cryptocurrency license in Hong Kong on October 25, according to SFC records. "VAEXC is another applicant and they have no relationship with us," added an HKVAEX representative, distancing the company from VAEXC.
Earlier reports from the South China Morning Post had alleged a connection between Binance and HKVAEX, claiming that Binance was linked to the establishment of HKVAEX for the purpose of seeking a cryptocurrency license in Hong Kong. These reports also suggested that HKVAEX's website utilized Binance servers for content delivery. However, neither HKVAEX nor Binance has responded to Cointelegraph's inquiries regarding these purported affiliations between the platforms.
As of November 27, the Securities and Futures Commission confirmed that only OSL Digital Securities and HashKey Exchange had acquired virtual asset trading platform operator licenses among cryptocurrency trading platforms. In August 2023, OSL and HashKey became the pioneering platforms to offer virtual asset trading services to retail clients in Hong Kong, adhering to the country's newly implemented cryptocurrency regulations.
