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A HKVAEX representative has said that the crypto exchange has yet to apply for a virtual asset trading platform permit with Hong Kong’s Securities and Futures Commission (SFC). Amid numerous reports incorrectly claiming that HKVAEX has applied for a permit, the spokesperson said an application had not been submitted.

Binance Seeks to Comply with Hong Kong Regulation

On November 27, the representative said they were still preparing for the application. Further, they emphasized the need to cease confusing the crypto exchange with VAEXC, which applied for a permit on October 25. Specifically, they said that VAEXC is a different applicant and has no associations with HKVAEX.

The news came shortly after a Hong Kong-based newspaper publication showed Binance was behind the cryptocurrency exchange. The newspaper’s sources reveal that Binance created HKVAEX to go after a crypto permit in Hong Kong. Additionally, the report asserted that the exchange’s website utilized Binance servers to access information.

Despite a request for comment concerning supposed associations between the platforms, HKVAEC and Binance did not respond.

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Binance Joining OSL Digital Securities and HashKey

Data from SFC shows that as of November 27, OSL Digital Securities and HashKey are the only crypto trading platforms with licenses to operate as virtual asset trading platforms.

In August this year, HashKey and OSL became the initial crypto exchanges to begin offering crypto trading services to Hong Kong’s retail clients under the nation’s new crypto guidelines.

Editorial credit: Iryna Budanova /

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Michael Scott

By Michael Scott

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