Hong Kong has issued its first virtual asset license to local player HashKey, two months after rolling out the new crypto regulatory regime.
HashKey has become Hong Kong’s first licensed virtual asset trading platform and will now able able to offer services to retail investors, according to a statement. Under the new rules, retail investors are restricted to larger tokens such as Bitcoin and Ether, in addition to various other risk-related requirements.
As a result, the local crypto firm has upgraded its existing licenses which have allowed it to operate under an earlier voluntary program. The only other crypto exchange with a permit under this program is local rival OSL.
«With the establishment of licenced trading platforms and the further clarity of regulatory frameworks in Hong Kong, the industry as a whole will witness increased transparency, leading to a significant boost in investor confidence,» said HashKey Group COO Livio Weng.
