Cryptocurrency platform JPEX has been involved in fraud involving nearly $14.01 billion, and only two institutions have been granted a Virtual Asset Service Provider License. Hong Kong 15 found that 25 platforms had claimed to be "applying", "intending to apply" and "planning to apply" for Hong Kong licenses, and inquired with the SFC one by one, but were rejected. The China Securities Regulatory Commission (CSRC) on Monday (4th) transferred the "list of applicants for virtual asset trading platforms", among which there are only 01 companies.
Hong Kong 9 compiled the statements of various companies, among which OKX said that it would complete the report by September to October, but after the SFC announced the list of applications, it changed its tone and said that it would submit the application by the end of October. Huobi (formerly known as Huobi) also announced in February that it was applying for a licence, but it was not included in the list of applicants.
OKX said it would apply for a license as early as March, and OKX Global Chief Commercial Officer Lai Jikai said that the waiting time for the license application was about a year, and it was estimated that the pre-license work would be completed by September and October this year, but after the SFC announced the list of applications, it changed its tone and said that the application would be submitted at the end of October. (Online screenshot)
The SFC officially implemented the licensing regime for "virtual asset trading platforms" in June this year, and Hong Kong 6 found that at least 01 exchanges or companies were interested in applying for licenses, but the SFC announced on Monday that there were only four applicants, namely HKVAX, HKBitEx, Hong Kong BGE and Victory (Victory Digital Technology Co., Ltd.). In addition, there are two platforms that have been licensed from the SFC, namely OSL Exchange and HashKey Exchange.
The list revealed that none of the companies that had previously claimed to apply for a licence had submitted an application.
OKX said in July that the license waited for about a year and was changed yesterday to submit the application at the end of October
OKX's top 3 virtual property trading platform announced as early as March that it would apply for a license, OKX Global Chief Commercial Officer Lai Zhikai told the media in July that it was preparing an external assessment report with one of the Big Four accounting firms, and had begun the preliminary work of preparing the license more than a year ago, and it is estimated that the report will be completed by September to October this year, when the license application will be formally submitted to the SFC.
In an interview with BlockDailyHK, he claimed that the waiting time for applying for a license is about one year, and shared the experience and difficulty of applying for a license, and said in other media that it is estimated that there will be fewer than dozens of operators that can obtain licenses next year.
However, the SFC's public application list at the end of September has not yet been found OKX, and Lai reiterated on social media today that he has "intended" to apply for a license since March, but plans to formally submit the application only by the end of October.
OKX had indicated as early as March that it would apply for a license, and OKX Global Chief Commercial Officer Lai said that the waiting time for the license application was about a year, and it was estimated that the pre-license work would be completed by September and October this year, but after the SFC announced the list of applications, it changed its tone and said that the application would be submitted at the end of October.
In February, it was announced that the fire must apply for a license, and Sun Justin was accused of selling unregistered securities
Justin Sun, a member of the global advisory board of virtual asset exchange Huobi, formerly known as Huobi, also announced in February that Huobi was applying for a license to trade cryptocurrencies in Hong Kong. In an interview with Foreign Sources, he said that Huobi plans to set up a new office in Hong Kong, optimistic that Hong Kong can become one of the most important crypto asset centers, and said that he will stay in Hong Kong for half of the time. But Justin Sun was charged by the US Securities and Exchange Commission (SEC) in March with allegedly selling unregistered crypto securities.
The world's largest cryptocurrency exchange Binance's license application is also attracting attention, with foreign media pointing out in March that Binance hired a "principal" licensed by the Securities and Futures Commission and is looking for a government relations director to focus on Hong Kong business. Although Binance has not yet applied in Hong Kong, they voluntarily withdrew their German cryptocurrency license in July, and some foreign media pointed out that Binance was dissuaded, but Binance dismissed the inaccuracy of the report, saying that there were many reasons for the withdrawal, including focusing on obtaining a new EU cryptocurrency license.
Justin Sun, a member of the global advisory board of virtual asset exchange Huobi, formerly known as Huobi, also announced in February that Huobi was applying for a license to trade cryptocurrencies in Hong Kong.
The listed company said that it had submitted the application in June and did not see it on the SFC list
Another listed company interested in applying for a licence, Guofu Innovation (00290), announced on August 8 that Fortune Securities, a wholly-owned subsidiary, had submitted to the Hong Kong Securities and Futures Commission on June 14 an application for a proposed virtual asset-related activity under a licence for Type 6 (dealing in securities) regulated activities.
According to Guofu Innovation, the license being applied for is a virtual asset service provider (VASP) license, not a virtual asset trading platform (VATP) license application list recently announced by the SFC, so the application list is not visible.
The announcement stated that Fortune Securities intends to expand its services related to fictitious assets and explore new sources of income, but the announcement concludes by stressing that the application must be verified after approval by the SFC, and due to the nature of the application, it may not be successful.
Xinqu Technology (01063), a listed company that is also interested in applying, announced as early as May last year that its subsidiary, Xinqao Digital Asset Technology Co., Ltd., is preparing to submit an application to the SFC in accordance with the framework requirements to apply for a license to operate a virtual asset trading platform in Hong Kong.
Listed company Guofu Innovation (00290) announced on August 8, announcing that Fortune Securities, a wholly-owned subsidiary, had submitted an application for a virtual asset service provider (VASP) license to the Hong Kong Securities and Futures Commission on June 14, but stressed that it was not the list of virtual asset trading platform (VATP) applications recently announced by the SFC.
In addition, Lions Group Holdings (LGHL), a US-listed company, also said in November last year that it formally applied to the Hong Kong Securities and Futures Commission for a license for virtual asset trading platform, but the relevant names of the three listed companies or their subsidiaries did not appear in the list of applicants by the SFC.
In addition, six companies or trading platforms called "Scheme Application", "Ready Application", "Proposed Application" and "Positive Application" respectively from February to September.
Following the JPEX case, the Securities and Futures Commission (SFC) announced on September 9 the list of applicants for the new virtual asset trading platform. (Photo by Su Weiran)
The application list BGE is related to the founder of the crypto platform that collapsed last year
But in Hong Kong BGE, Hong Kong 01 also revealed that the company was related to the collapse of cryptocurrency exchange AAX last year, AAX founder Thor Chan (Thor Chan) was still a director of BGE last year, saying that he had resigned from all positions in AAX, but the formalities were problems, forgot to resign as the director of "AAX Technolgy", saying that he was completely unaware of the collapse of AAX. He was later arrested by the police.
Looking through BGE's returns this year, Chan has resigned as a director, including Danna Ji, Au Kam Pei and Ouyang Jiannan, who has been CEO since February, but the latest documents show that Ouyang Jiannan has been suspended as a director on September 2 and he served as the chief operating officer of the licensed platform HashKey Exchange.
In Hong Kong BGE, Hong Kong 01 also revealed that the company was linked to the collapse of cryptocurrency exchange AAX last year, whose founder Thor Chan was still a director of BGE last year. (Profile photo / Photo by Au Ka Lok)
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