OKX Managing Director Global Institutional Lennix, Lai:
The future success of Web3 and crypto markets depends on licensing and regulation. OKX believes there is tremendous potential in Hong Kong. We are committed to investing and working with regulators for the next five years in order to continue building the local community. The new VASP regime has provided Hong Kong with a strong regulatory framework that will allow it to be a leading virtual asset hub. We’re looking forward to applying for the relevant licences via our Hong Kong entity.
Bing Zhao, OKX General Counsel, stated:
OKX has ambitious goals when it comes to seeking licenses in relevant and suitable jurisdictions. We will work with the SFC throughout this application process. We take compliance, security and custody very seriously. We want to show that we can meet or exceed the strict standards of virtual asset services providers as set out by this regulatory regime.
OKX was granted a provisional Dubai VARA permit in July 2012 to provide services to qualified UAE investors.
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