HashKey Exchange CEO said the SFC might have factored in the user base from a 'sensitive region' when reviewing license applications.
Livio Weng, CEO of HashKey Exchange, indicated that Hong Kong’s financial regulator may have considered the user base from a “sensitive region” during the review of license applications from certain international crypto exchanges.
Many global exchanges — including OKX, Gate.io and HTX — have withdrawn their license applications in Hong Kong. OKX, for example, said that it will wind down its Hong Kong business by the end of August. “The SFC’s stance on China thus should not be a complete surprise to the industry, but the explicit direction may have upped the ante,” Ang also said. “Hong Kong is generally seen as a springboard to access the mainland market, so this could well be a factor driving withdrawals.”
Companies Policy Regulation Asian Regulation Hashkey Hong-Kong
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