CoinEx launches BitHK for Hong Kong users

  • BitHK, a new crypto trading platform, will provide spot trading and plans to launch a P2P exchange for users in Hong Kong.
  • The exchange will apply to register as a Virtual Asset Service Provider (VASP) with the Hong Kong Securities and Futures Commission (SFC) on June 1.
  • Huobi HK, another exchange, is also offering spot trading to Hong Kong users and has applied for registration with the SFC.

CoinEx, a crypto exchange platform operational since 2017, has launched BitHK, a crypto trading platform for users in Hong Kong.

BitHK will provide various crypto services to CoinEx users in Hong Kong.

Exchanges must seek approval to offer services in Hong Kong

CoinEx launched BitHK ahead of the effective date of guidelines recently announced by Hong Kong regulators, which will allow registered crypto exchanges to offer trading services to retail investors.

CoinEx will submit an application for approval as a VASP to the Securities and Futures Commission (SFC) on June 1, according to a press release published on Monday. The exchange is committed to providing compliant, fair, and professional services while protecting investors’ assets.

BitHK users will have access to spot trading and crypto storage services, and CoinEx plans to introduce P2P trading and HKD transactions soon.

Huobi also announces Huobi HK

Huobi HK also announced its crypto services to Hong Kong users on Monday. The platform said it would provide crypto spot trading services to retail and institutional clients.

Huobi HK applied for Hong Kong’s VASP license on May 29, 2023, according to details shared on the platform’s Twitter account. This follows Hong Kong’s recent announcement that approved exchanges can offer crypto trading to retail investors, with major coins Bitcoin and Ethereum among the first to be allowed.

In related news, Binance announced it would transition all of its users in Japan to a new platform called Binance Japan. The process began on May 26 and will continue through the summer.

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