Now, Hong Kong’s securities regulatory body has given the green signal to another four cryptocurrency exchanges as part of its competitiveness in the race to retain a place in the global race in the area of digital trading. The most recently licensed exchanges are Accumulus GBA Technology (Hong Kong) Co., DFX Labs Company, Hong Kong Digital Asset EX, and Thousand Whales Technology (BVI). This has now increased the total number of licensed virtual asset trading platforms in the city to seven.
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Hong Kong has been aggressively marketing itself as a place for cryptocurrencies and digital assets. As noted by Nick Ruck, director at LVRG Research, these new players signify a commitment on the part of Hong Kong to digital assets. The city had previously approved trading platforms like HashKey, OSL, and HKVAX.
These are, according to the securities watchdog, approvals given under its “swift licensing process.” Earlier this year, Hong Kong launched Asia’s first spot bitcoin and ether exchange-traded funds (ETFs), further establishing its hold on the crypto market.