Oi OKX Moves to Establish a Hong Kong Entity for Virtual Asset Services
It is reported that Oi OKX has announced the establishment of a Hong Kong entity to launch virtual asset services in Hong Kong, and plans to apply for a virtual asset service provi
It is reported that Oi OKX has announced the establishment of a Hong Kong entity to launch virtual asset services in Hong Kong, and plans to apply for a virtual asset service provider license under the Anti Money Laundering and Terrorist Financing Ordinance (which will take effect on June 1, 2023), as well as category 1 and 7 licenses under the Securities and Futures Ordinance.
Ouyi OKX establishes a Hong Kong entity and plans to apply for a virtual asset service provider license
Oi OKX has announced plans to expand its virtual asset services in Hong Kong by establishing a Hong Kong entity. This move comes after the adoption of the Anti Money Laundering and Terrorist Financing Ordinance, which is set to take effect on June 1, 2023. In addition to the Hong Kong entity, Oi OKX is also planning to apply for a virtual asset service provider license as well as category 1 and 7 licenses under the Securities and Futures Ordinance.
Background on Oi OKX
Oi OKX is a digital asset exchange platform that is registered in the Seychelles. It was established in 2020 and has since then gained popularity in the digital asset community. Its users enjoy a variety of benefits, including high-speed trading, high liquidity, and easy access to digital assets.
Establishing a Hong Kong Entity
In a bid to expand its reach in the digital asset market, Oi OKX has announced the establishment of a Hong Kong entity. The move is expected to boost Oi OKX’s profile in the digital asset market and also enhance its regulatory compliance.
The Anti Money Laundering and Terrorist Financing Ordinance
The Anti Money Laundering and Terrorist Financing Ordinance was enacted by the Hong Kong government in order to combat money laundering and terrorist financing in the region. Under this ordinance, virtual asset service providers are required to register with the Hong Kong government and obtain a license before they can offer their services in Hong Kong. The ordinance is set to take effect on June 1, 2023, and Oi OKX has already announced its intention to apply for the requisite license.
Category 1 and 7 Licenses under the Securities and Futures Ordinance
In addition to the virtual asset service provider license, Oi OKX is also planning to apply for category 1 and 7 licenses under the Securities and Futures Ordinance. These licenses will enable Oi OKX to offer its users other services such as futures trading and asset management.
Conclusion
The establishment of a Hong Kong entity and the application for relevant licenses put Oi OKX in the position to become one of the leading virtual asset service providers in Hong Kong. With its established reputation and the acquisition of the necessary licenses, Oi OKX will be able to offer trusted and secure digital asset services to its users.
FAQs
Q: What is Oi OKX?
A: Oi OKX is a digital asset exchange platform that offers high-speed trading, high liquidity, and easy access to digital assets.
Q: Why is Oi OKX establishing a Hong Kong entity?
A: Oi OKX is establishing a Hong Kong entity to expand its reach in the digital asset market and enhance its regulatory compliance.
Q: What licenses is Oi OKX planning to apply for?
A: Oi OKX is planning to apply for a virtual asset service provider license, as well as category 1 and 7 licenses under the Securities and Futures Ordinance.
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