Countries around the globe are actively pursuing opportunities to position themselves as centers for cryptocurrency activities, and Hong Kong is no exception. The region has been taking steps to embrace the adoption of cryptocurrencies. In July, the government of the Hong Kong Special Administrative Region revealed its intention to create a task force aimed at advancing the development of web3 technology.
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Now, according to the latest reports, Hong Kong has officially launched its first cryptocurrency trading platform.
Hong Kong officially launches HashKey
Dubbed the HashKey, HK’s first licensed cryptocurrency exchange made its debut on Monday. HashKey and OSL were granted approval by the Securities and Futures Commission (SFC) to enhance their licenses this month. This expansion allows them to extend their services from catering solely to professional investors to including retail investors as well.
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Joseph Chan Ho-lim, the undersecretary for financial services and the Treasury, highlighted this sentiment during the launch of HashKey. He emphasized that the launch of HashKey’s exchange symbolizes the SAR government’s proactive stance toward embracing fintech innovation, all while prioritizing the safeguarding of investors.
Additionally, Chan Ho-lim went on to stress on the remarkable strides Hong Kong has made in bridging the gap between virtual assets and traditional financial markets.