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The Hong Kong SFC updates its list of virtual asset trading platform license applicants, highlighting OKX as the first offshore applicant.  The Hong Kong Securities and Futures Commission (SFC) has recently updated its list of virtual asset trading platform license applicants, marking a significant step in regulating cryptocurrency exchanges in the region. The updated list, published on the SFC’s website, includes the names of seven companies actively seeking to operate crypto trading platforms in Hong Kong. Among these, OKX stands out as the first offshore exchange to formally apply for a compliance license in Hong Kong. You might also like: U.S. DOJ seeks $4b settlement from Binance, CEO may face criminal charges The move by the SFC is part of its ongoing efforts to provide transparency about regulatory statuses of virtual asset trading platforms targeting Hong Kong investors. The commission has made it clear that being on the list does not imply an endorsement of ...

The crypto exchange’s move to withdraw its license in Germany comes amid reports that the exchange faced rejection from regulators. Binance has withdrawn its cryptocurrency custody license application in Germany. The exchange confirmed its withdrawal to Cointelegraph on July 26, nearly a month after reports of rejections from The German Federal Financial Supervisory Authority (BaFin). On June 29, BaFin reportedly rejected the crypto exchange’s custody license . However, at the time, it was unclear whether the regulator officially denied Binance’s application or if it verbally informed the company. However, Binance has now confirmed that it has formally withdraw n its license application . A spokesperson from Binance told Cointelegraph that it intends to re-apply for a license in Germany, with changes to its application reflecting the changes in the regulatory environment: “Binance confirms that it has proactively withdrawn its BaFin application. The situation, both in the global ...