As you might know OKX is the second biggest cryptocurrency exchange after Binance . And recently it has announced that it will allow customers in Hong Kong to trade cryptocurrencies in the region . This move comes after the Hong Kong regulator recently paved the way for individual investors to engage in cryptocurrency transactions that brings clarity to the previously ambiguous landscape of permitted cryptocurrencies
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OKX Provides List of Approved Cryptocurrencies for Trading
OKX has provided a list of 16 cryptocurrencies and tokens that can be bought and sold in the region after they got their license from the Hong Kong regulator . The crypto list includes popular cryptocurrencies such as Bitcoin and Ether as well as ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT and USDC . Notably the inclusion of the two largest stablecoins which are USDT and USDC which indicates a departure from the usual regulatory approach that limits transactions to a country’s own currency .
Enhanced Accessibility and Options for Crypto Purchases
OKX also offers people the chance to purchase cryptocurrencies using ApplePay to increase accessibility . Also credit cards like Visa and Mastercard as well as Hong Kong dollars can be used to buy and sell crypto assets . The platform also supports person-to-person trading (P2P) which enables users to engage in direct cryptocurrency exchanges within the OKX system .
With OKX’s expansion of cryptocurrency trading services in Hong Kong individual investors now have the opportunity to participate in the dynamic world of cryptocurrencies while complying with the newly established regulatory framework .
Hong Kong Welcomes Virtual Asset Trading Platforms, Sets Guidelines for License Applications
The Securities and Futures Commission (SFC) in Hong Kong has announced that virtual asset trading platforms can apply for a license if they are willing to comply with the proposed guidelines . These guidelines will cover various aspects including safety requirements for asset custody, cybersecurity standards and the segregation of client assets .
The SFC CEO, Julia Leung, emphasized the importance of providing clear regulatory expectations to foster a responsible and innovative development environment . The aim of Hong Kong’s comprehensive virtual assets regulatory framework is to ensure robust investor protection and manage key risks, following the principle of treating similar businesses with the same rules .
