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Hong Kong’s Securities and Futures Commission mandates crypto trading platforms to apply for licenses by Feb. 29 or to shut down their businesses by May 31. In a notice issued on Feb. 5, the move aims to safeguard investors , urging them to verify the regulatory status of the platform s they use against the SFC’s published lists of license d and applicant virtual asset trading platform s. The Hong Kong SFC once again reminds that if a virtual asset trading platform operating in Hong Kong fails to submit a license application to the Securities and Futures Commission on or before February 29, 2024, it will have to end its business in Hong Kong on or before May 31,… — Wu Blockchain (@WuBlockchain) February 5, 2024 The SFC’s advisory encourages investors engaged with unlisted platforms to promptly take necessary actions, including account closure, to avoid potential risks. This directive follows the beginning of Hong Kong’s crypto licensing regime in Ju...

On June 15, the Seychelles-based crypto exchange OKX entered the Middle East after the Dubai Virtual Assets Regulatory Authority (VARA) granted its Minimal Viable Product (MVP) preparatory license . The exchange has also expand ed services to Hong Kong, allowing users to access cryptocurrencies and third-party payment providers such as Apple Pay, Visa, and Mastercard. OKX is preparing to expand the local team in Dubai to 30 people; OKX states that Dubai's advantage lies in creating a separate license for crypto assets in addition to traditional assets such as stocks, futures and bonds, rather than treating cryptocurrencies as commodities or… — Wu Blockchain (@WuBlockchain) June 26, 2023 Moreover, a recent report shows that the Seychelles-based crypto firm is trying to expand its Dubai team to 30 members — currently 15 — amid a current market uptrend. OKX chief commercial officer (CCO) Lennix Lai says the crypto exchange could be fully operational “within this year,” tha...