Hafu Securities Secures SFC Approval for Virtual Asset Trading
The post Hafu Securities Secures SFC Approval for Virtual Asset Trading appeared on BitcoinEthereumNews.com. Key Points: Hafu Securities gains SFC approval for virtual asset trading. New service expansion in Hong Kong. Access to major assets like BTC, ETH. In June 2024, Hafu Securities, a subsidiary of Dongfang Fortune, received authorization from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset trading services. This development marks a significant milestone in Hong Kong’s financial sector. Hafu’s approval highlights Hong Kong’s regulatory evolution in digital assets, paving the way for institutional expansion. As part of the SFC’s updated licensing framework, Hafu can enhance access to major cryptocurrencies. Hong Kong’s Shift Towards Institutional Crypto Adoption Hafu Securities has been authorized by the Hong Kong SFC to offer virtual asset trading services under its expanded business licenses. The approval aligns with Hong Kong’s regulatory framework allowing more institutional players to engage in digital assets. This action represents a potential increase in accessibility and legitimacy for virtual assets in Hong Kong. With this regulatory backing, Hafu Securities is positioned to offer trading in major cryptocurrencies, enhancing market participation. “Under the proposals, any person who carries on business of dealing in VAs in Hong Kong, regardless of whether through a physical outlet and/or other platform, or who provides VA custodian services will have to be licensed or registered with the SFC, subject to a fit-and-proper test and other factors deemed relevant by the SFC.” — Hong Kong Securities and Futures Commission (SFC), Regulatory Authority, Hong Kong Cautious Optimism as Market Awaits Regulatory Outcomes Did you know? In 2023, Hong Kong’s SFC commenced licensing for crypto exchanges, beginning with Coinbase exchange and OSL, reflecting a broader trend of regulatory acceptance in digital trading markets. According to CoinMarketCap, Bitcoin currently trades at $117,702.98 with a market cap of $2.34 trillion. The asset maintains a dominant position at 63.89% of the…
The post Hafu Securities Secures SFC Approval for Virtual Asset Trading appeared on BitcoinEthereumNews.com.
Key Points: Hafu Securities gains SFC approval for virtual asset trading. New service expansion in Hong Kong. Access to major assets like BTC, ETH. In June 2024, Hafu Securities, a subsidiary of Dongfang Fortune, received authorization from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset trading services. This development marks a significant milestone in Hong Kong’s financial sector. Hafu’s approval highlights Hong Kong’s regulatory evolution in digital assets, paving the way for institutional expansion. As part of the SFC’s updated licensing framework, Hafu can enhance access to major cryptocurrencies. Hong Kong’s Shift Towards Institutional Crypto Adoption Hafu Securities has been authorized by the Hong Kong SFC to offer virtual asset trading services under its expanded business licenses. The approval aligns with Hong Kong’s regulatory framework allowing more institutional players to engage in digital assets. This action represents a potential increase in accessibility and legitimacy for virtual assets in Hong Kong. With this regulatory backing, Hafu Securities is positioned to offer trading in major cryptocurrencies, enhancing market participation. “Under the proposals, any person who carries on business of dealing in VAs in Hong Kong, regardless of whether through a physical outlet and/or other platform, or who provides VA custodian services will have to be licensed or registered with the SFC, subject to a fit-and-proper test and other factors deemed relevant by the SFC.” — Hong Kong Securities and Futures Commission (SFC), Regulatory Authority, Hong Kong Cautious Optimism as Market Awaits Regulatory Outcomes Did you know? In 2023, Hong Kong’s SFC commenced licensing for crypto exchanges, beginning with Coinbase exchange and OSL, reflecting a broader trend of regulatory acceptance in digital trading markets. According to CoinMarketCap, Bitcoin currently trades at $117,702.98 with a market cap of $2.34 trillion. The asset maintains a dominant position at 63.89% of the…
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