Hash Blockchain Exiguous (HBL), a member of the HashKey Team (HashKey), a blockchain asset financial services and products community in Asia, introduced at the moment it has bought approval from the Securities and Futures Charge of Hong Kong (SFC) to operate a digital asset buying and selling platform, below a Form 1 (dealing in securities) license and a Form 7 (computerized buying and selling services and products ATS license) for first rate investors.
With the SFC licenses, HashKey Team has now turn into the arena’s first digital asset community with digital asset licenses from the Hong Kong SFC, the Financial Services Agency of Japan, and an exemption to operate below the Charge Services Act from the Monetary Authority of Singapore.
Trading with HashKey
HashKey PRO is the title of HBL’s institutional-grade crypto asset buying and selling platform. HashKey PRO will present first rate investors with computerized buying and selling services and products for cryptocurrencies equivalent to bitcoin and ether, as properly as stablecoins, security tokens, and more.
Not like somewhat deal of unregulated crypto buying and selling platforms, HashKey PRO is designed to make particular that there’s a excessive degree of client asset security. Client property are segregated and held in custody by HashKey Custody Services Exiguous, which holds a Belief or Company Service Provider license in Hong Kong.
HBL’s license issuances reach after a assertion on October 31, 2022, by town’s Financial Services and the Treasury Bureau, which outlined its vision and means to manufacture Hong Kong into an global digital property hub.
“The most modern coverage assertion is a testament to the Hong Kong executive’s dedication and dedication to fortify town’s attach as a frontrunner and leader in blockchain and digital asset innovation and law. We are glad to enjoy bought the licenses given the backdrop of this optimistic announcement. This enables us to produce regulated and compliant digital asset buying and selling services and products as we proceed to reduction fabricate the financial, technological, and provider infrastructure to facilitate and contribute to the speedily progress and the long-timeframe vogue of the ecosystem.”
– Michel Lee, Executive President of HashKey Team
In 2022, the Hong Kong executive and regulators were surroundings out contemporary guidelines and a licensing framework to preserve watch over digital asset buying and selling actions within the hobby of client and investor security.
A joint circular announcement used to be issued by the SFC and the Hong Kong Monetary Authority on January 28 2022 pointing out that registered institutions and licensed companies are required to partner handiest with SFC-licensed VATPs in clarify to produce digital asset dealing services and products to their consumers.
At Hong Kong FinTech Week 2022, the SFC moreover launched a Spherical on Virtual Asset Futures Exchange Traded Funds, pointing out that the SFC will originate accepting functions for the authorization of such funds. The SFC has started reviewing the “first rate investor handiest” requirement acceptable to the investment of digital asset products and is preparing a circular to voice a modified security token regime to address tokenized property in accordance to ancient property on a “identical industry, identical threat and identical rules” means.