According to information on the official website of the Hong Kong Securities and Futures Commission (SFC), Bybit, a leading cryptocurrency exchange, has officially applied for a virtual asset trading platform license in Hong Kong. The license application was made under the name Spark Fintech Limited.
Bybit Applies for Hong Kong Virtual Asset Trading Platform License
The SFC website shows that Bybit’s application is among a total of 14 companies listed as applicants for the virtual asset trading platform license. This move is in line with Bybit’s commitment to regulatory compliance and transparency in its operations.
The license application process involves comprehensive review by the SFC and ensures that applicants comply with the regulatory framework and guidelines established for virtual asset trading platforms in Hong Kong.
The Hong Kong virtual asset trading platform license is a crucial regulatory step that facilitates the legal operation of cryptocurrency exchanges in the region.
While the application goes through the SFC’s evaluation process, Bybit stated that it will work closely with regulatory authorities to address any questions and ensure full compliance with Hong Kong’s regulatory requirements.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/giant-bitcoin-exchange-applied-to-obtain-a-virtual-asset-trading-license-in-hong-kong/