Crypto trading platform hong kong
The licence will permit OSL to operate a brokerage and automated trading service for virtual assets, including security tokens. Final approval by the SFC is subject to fulfilment of certain conditions. On 6 November , the SFC announced its regulatory approach to licensing virtual asset trading platforms which includes requirements on hot and cold digital wallet insurance, client asset segregation, know-your-customer, anti-money laundering, maintenance of orderly markets and other virtual asset specific controls see link — Regulation of virtual asset trading platforms. As summarised in our publication Opt-in regulation of virtual asset trading platforms , the SFC integrates specific requirements for virtual asset platforms while maintaining traditional rigorous securities regulations in its new framework.
We are searching data for your request:
Crypto trading platform hong kong
Upon completion, a link will appear to access the found materials.
Content:
- Obtaining license for cryptocurrency exchange in Hong Kong
- Does HK’s proposed retail trading ban spell good or bad news for its crypto market?
- 10 Best Crypto Exchanges: Top Cryptocurrency Trading Platforms Reviewed
- Best Bitcoin Exchange for Hong Kong
- Cryptocurrency exchanges and custody providers: International regulatory developments
- Best crypto exchanges in Hong Kong
- Hong Kong reviews cryptocurrency regulations
- Are cryptocurrency trading platforms regulated?
- SFC’s Julia Leung Gives Update on Hong Kong Crypto Regulation
Obtaining license for cryptocurrency exchange in Hong Kong
Cryptocurrency is a digital currency secured by cryptography which makes it almost impossible to counterfeit. They are decentralized networks based on blockchain technology which is a distributed ledger enforced by a separate network of computers. What sets cryptocurrency apart from the traditional currency is that it is virtual and that it is not issued by any government authority.
A crypto exchange is a virtual marketplace where cryptocurrency can be bought or sold. This online platform functions as an intermediary for cryptocurrency buyers and sellers.
Here, you can deposit money via bank transfer, wire, or any other authorized means of deposit. However, this service has a price attached to it and you will often have to pay for it. Bitmex is a peer-to-peer cryptocurrency trading platform created in that is registered in Seychelles but operates in Hong Kong and the US. Bitmex is particularly focused on cryptocurrency derivatives trading which includes margin and futures trading. Due to this focus, Bitmex is better suited for experienced traders instead of beginners who wish to trade with lower volumes of cryptocurrency.
Some of the benefits of trading with Bitmex are its increased security levels and reduced red tape with no identity documents requested. The trading fee is also quite low along with there being no deposit or withdrawal fee either.
Coinmama is an online crypto exchange based in Slovakia. Since launching in , Coinmama has amassed a total of 2,, users across countries. What makes Coinmama unique is that it has one of the highest daily spending limits compared to all other crypto exchanges. Other attractive features include instant cryptocurrency delivery upon payment, multiple payment options, and its rewarding affiliate program.
IO first began as a cloud mining services provider and has now expanded into a multi-functional cryptocurrency exchange platform. Through CEX. IO, you can also buy and sell cryptocurrencies on a web trading portal or a mobile application. What makes CEX. IO unique is that you can hold several different account types enabling traders to choose which cryptocurrency best matches them.
The platform is available for use in more than countries. However, due to certain regulations, traders based in the US are not accepted onto the platform.
Currently, CEX. The platform has a number of security features that protect users and eliminates any fear of hacking and theft. Paybis is a multi-cryptocurrency exchange that provides multiple services which include the buying and selling of cryptocurrencies and also providing liquidity services within the fintech sector.
Due to its significant global reach and international customer base, the platform is also available in 9 languages, making it extremely accessible and easy to use. Additionally, Paybis is known to have a transparent fee structure with no hidden fees, extremely responsive customer support services, and a simple registration process.
You can also access the services BTCC offers through a web-based platform and a mobile trading platform which gives you the choice to decide what to use depending on your preference, usage, and technological familiarity.
Moreover, to make the platform secure, there is two-factor authentication due to the unlimited crypto deposits offered without KYC. There is also a mining pool for traders to mine their own coins for a rental fee.
OkCoin is one of the biggest crypto exchanges in the world by volume. While the platform accepts traders from all over the world, OkCoin is primarily suited for users in China and the rest of the Asian market. Despite not being regulated by a financial regulatory authority, the platform has built a strong reputation amongst users by gaining their confidence and trust.
OkCoin is embedded with the latest security and encryption protocols to ensure every trade is safe and secure. Moreover, the fees are low compared to other platforms and users can also trade on margin and in futures markets. While fiat currency deposits and withdrawals can be made, verification is required and only a limited number of cryptocurrencies are available to trade with.
Huobi is a self-proclaimed digital asset exchange as opposed to a crypto exchange. Originally based in Beijing, Huobi had to move to Singapore as fiat to cryptocurrency trading was banned in China. The platform is popular due to it being extremely technologically advanced with its price feeds, charting, cryptocurrency profiles, and in-depth market data. Users have described the platform as a perfect balance between functionality for experienced traders and accessibility for new traders.
Huobi also has over cryptocurrencies on its main exchange. The only negative side is that as of now, the registration process for users outside of China, Hong Kong, and Singapore is slightly more complicated. Wirex is an innovative app that allows digital and traditional currencies to be easily sent, received, and exchanged.
You can make payments through the Wirex App, their payment card, and e-wallet which transactions for digital and traditional currencies. The benefits of using Wirex as a crypto exchange are that the registration and verification process is extremely quick and easy and can be done in just a couple of minutes.
Unlike some crypto exchanges, Wirex supports both cryptocurrency and fiat money which is a huge bonus for people who use both who want to make their transactions all in one place. Lastly, it is an easy-to-use platform that is regulated and licensed with a global reach of countries.
Moreover, the platform places huge importance on security and ensuring that all trades are carried out safely. Binance is known as one of the fastest platforms to trade cryptocurrencies in the market and is also one of the largest crypto exchanges in terms of the trading volume. The platform is quite popular both for investors and traders as access is provided to over 30 cryptocurrencies. Not only does this give investors flexibility but it makes it easier to enter the market.
All investors and traders can make payments through bank deposits, credit or debit cards, bank transfers, or third-party payments via Banxa and Simplex. A popular aspect of Binance is their Affiliate Program where for every new user referred to the platform, the referrer will earn a commission anytime the new user trades on Binance. Cryptocurrency and digital assets are becoming extremely popular which are why you need to stay ahead of the game and understand which crypto exchange is the best for you!
Hong Kong has a number of procedures and legislation that guide companies in the process of share capital reduction, but it is ultimately a simple procedure that can save your company from running into financial trouble or going bankrupt. Many countries have been significantly contributing towards this market growth.
The e-Commerce explosion is largely attributed to the rising use of mobile devices worldwide. Without the use of mobile applications, […]. Your First Name. Your Last Name. Your email. Your phone number. Top Hong Kong Crypto Exchanges. What are crypto exchanges? Bitmex Currencies Supported. Coinmama Supported Cryptocurrencies. Paybis Supported Cryptocurrencies. OKCoin Supported Cryptocurrencies. Huobi Supported Cryptocurrencies.
Wirex Supported Cryptocurrencies. Binance Supported Cryptocurrencies. Final words. Bitmex Bitmex is a peer-to-peer cryptocurrency trading platform created in that is registered in Seychelles but operates in Hong Kong and the US.
Due to this focus, Bitmex is better suited for experienced traders instead of beginners who wish to trade with lower volumes of cryptocurrency Some of the benefits of trading with Bitmex are its increased security levels and reduced red tape with no identity documents requested.
Coinmama Coinmama is an online crypto exchange based in Slovakia. Paybis Paybis is a multi-cryptocurrency exchange that provides multiple services which include the buying and selling of cryptocurrencies and also providing liquidity services within the fintech sector. OKCoin OkCoin is one of the biggest crypto exchanges in the world by volume.
The platform is based in Beijing and was founded in Huobi Huobi is a self-proclaimed digital asset exchange as opposed to a crypto exchange.
Wirex Wirex is an innovative app that allows digital and traditional currencies to be easily sent, received, and exchanged. Binance Binance is known as one of the fastest platforms to trade cryptocurrencies in the market and is also one of the largest crypto exchanges in terms of the trading volume. Are you looking to get your business involved with cryptocurrencies in Hong Kong?
Related Articles. January 13, 5 Steps to Share Capital Reduction in Hong Kong Hong Kong has a number of procedures and legislation that guide companies in the process of share capital reduction, but it is ultimately a simple procedure that can save your company from running into financial trouble or going bankrupt.
Have any questions about your new company in Hong Kong? Fill the form and we will reach out soon!
Does HK’s proposed retail trading ban spell good or bad news for its crypto market?
Why it matters: Cryptocurrency-related fraud has been on the rise in Hong Kong, an important hub for virtual asset exchanges. Setting out a licensing framework is a first step in regulating the industry, with the aim to reduce investor risk. This is a significant change from the more relaxed attitude only last year. We now fully recognize that any convincing official sector response will need, for the first time ever, to coordinate properly across two important dimensions.
10 Best Crypto Exchanges: Top Cryptocurrency Trading Platforms Reviewed
Click for PDF. This client alert discusses the proposed scope of the licensing regime, the proposed regulatory requirements for licence holders, implications for cryptocurrency trading platforms, and opportunities for the future development of such trading platforms in Hong Kong. Note that the discussions in this alert are based on the Consultation Conclusions. While unlikely, there could still be further changes in the drafting of the legislation before the laws are passed. Importantly there will be further public consultation before the detailed regulatory regime for licence holders, including applicable guidelines, are published, as discussed below. The public consultation period ended on 31 January , and the Consultation Conclusions were published on 21 May Accordingly, a peer-to-peer trading platform would not fall within the definition of a VA exchange provided that the actual transactions in VAs are conducted outside the platform and the platform is not involved in the underlying transaction by coming into possession of any money or any VA at any point in time i.
Best Bitcoin Exchange for Hong Kong
A view of a damaged bitcoin Illustration: VCG. Chinese tech company Meitu, famous for its photo editing applications, disclosed on Sunday that it made an investment, On Thursday, the account for Huobi, a Hong Kong-based Bitcoin trading platform was unable to be displayed. A Weibo statement shows that the account had "abnormal practices", and contains safety risks. The accounts for OKEx and Binance appear to be deleted.
Cryptocurrency exchanges and custody providers: International regulatory developments
Opt-in based framework; limited impact expected. Still PI only. Hong Kong is stepping up its efforts to formally regulate cryptocurrency exchanges in the city. The Securities and Futures Commission just released a newly drafted regulatory framework, which allows the securities watchdog to issue licenses to crypto trading platforms. Could this be a game-changer for the crypto industry? As a leading global financial hub, what does the new regime means to the city?
Best crypto exchanges in Hong Kong
Binance is considered a safe cryptocurrency exchange. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options. The exchange has developed a multi-level account system with an individual approach to each customer, from Bitcoin beginners to institutional traders. CEX shows a required level of security and due diligence for storage, processing and transmission of payment card data. Since its foundation in , it has grown to serve over 2 million customers across countries and today has over 40 employees. Coinmama is a really simple exchange, which makes a perfect platform for safe, secure and quick transactions. After buying bitcoin from an exchange, it's important to withdraw to your own non-custodial wallet for security, privacy, and to have full control over your bitcoin. Getting started takes 20 seconds.
Hong Kong reviews cryptocurrency regulations
As a magnet for both capital and talent, its long played a significant role in the fintech space — and that role has evolved into becoming a true hub for crypto. Numerous crypto startups have moved their operations to Hong Kong for its ease of doing business, and a vibrant community of crypto-focused funds and advisory firms call this city home as well. The city-state is also attractive for its proximity to the Chinese market, which is the largest Bitcoin mining market in the world and has massive numbers of people that are beginning to adopt crypto.
Are cryptocurrency trading platforms regulated?
RELATED VIDEO: What do Hong Kong’s regulations mean for crypto exchanges and investors?A handful of bitcoin exchanges offer bitcoin purchases in exchange for the Hong Kong dollar. Due to the low number of provider the prices on these exchanges might be higher than on the other international markets, so you might need to consider exchange HKD to USD, JPY or CNY and then purchase bitcoin using these currencies to be cost-efficient. You can deposit the required amount to the bitcoin exchange using bank wire transfers or through credit card purchases. Hong Kong at present has no regulatory framework ruling bitcoin and cryptocurrencies.
SFC’s Julia Leung Gives Update on Hong Kong Crypto Regulation
Customers of a cryptocurrency exchange in Hong Kong say they aren't able to withdraw their money or tokens from the exchange and some have filed reports to the police about the matter, Bloomberg reported Friday. Dozens of clients of exchange Coinsuper haven't been able to make withdrawals since late November, the report said, citing a review of messages on the company's official Telegram chat. Bloomberg reported that Coinsuper executives didn't respond to calls and messages seeking comment. A Hong Kong police spokesperson, responding by email to the news agency's inquiry about the Coinsuper complaints, said it's investigating one case where a person who purchased cryptocurrency "via an investment company" hadn't been able to withdraw her funds since December. President Karen Chen, the report said, and its trading app was still operating. The matter may stoke calls for broader regulatory oversight in Hong Kong as the city uses an "opt-in" regulatory structure for crypto exchanges, or exchanges can apply to be regulated, the report said. The report noted that in November , the head of Hong Kong's securities watchdog said it would propose a licensing regime for crypto-trading platforms.
One can choose to trade cryptocurrencies through local or overseas cryptocurrency trading platforms, which are also known as crypto exchanges or crypto brokers. However, only a few of them are regulated. Virtual asset trading platforms which offer trading of at least one security token are required to apply for a licence from the SFC for Type 1 dealing in securities and Type 7 providing automated trading service regulated activities, and subject to regulatory standards comparable to those applied to licensed securities brokers and automated trading venues.
Yes, that's right.