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OKX Global Institutional Business Department’s Proactive Compliance Preparation in Hong Kong

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According to reports, Lennix, the Managing Director of OKX Global Institutional Business Department, said in a social media message that the OKX team had activ…

OKX Global Institutional Business Departments Proactive Compliance Preparation in Hong Kong

According to reports, Lennix, the Managing Director of OKX Global Institutional Business Department, said in a social media message that the OKX team had actively prepared for the Hong Kong license application a year ago, and had set up a dedicated team of more than 20 people to take charge of the compliance process in Hong Kong. The team members were all from SFC, SEC, international law firms or licensed financial institutions, and adjusted their business according to the regulatory standards of SFO type 1 and type 7, It includes structural adjustment in line with the SFO MIC standard, currency exchange process adjustment, strengthening the overall market monitoring, implementing the Proof of Reserve, and strictly adhering to the bottom line of customer capital separation.

Managing Director of OKX Global Institutional Business Department: There is a dedicated team responsible for the compliance process in Hong Kong

Interpretation of the news:


OKX Global Institutional Business Department has reportedly taken proactive measures to prepare for the application of their Hong Kong license by setting up a dedicated team of more than 20 people. According to Lennix, the Managing Director of the department, the team consisted of experienced professionals from SFC, SEC, international law firms, and licensed financial institutions. The team has adjusted its business operations to adhere to the regulatory standards of SFO type 1 and type 7, which includes structural adjustment in line with the SFO MIC standard, strengthening overall market monitoring, implementing the Proof of Reserve, and strictly adhering to the bottom line of customer capital separation.

The decision by OKX Global Institutional Business Department to proactively prepare for the Hong Kong license application is commendable. By setting up a dedicated team of experienced professionals, OKX has demonstrated its commitment to regulatory compliance and customer protection. The adjustments made by OKX to its business operations will ensure that the organization upholds the regulatory standards of SFO type 1 and type 7. Adopting the SFO MIC standard will further enhance transparency and accountability in the process. This will make it easier for clients to assess the organization’s level of compliance with regulatory requirements.

Moreover, the move to implement the Proof of Reserve will act as an assurance for customers that OKX has sufficient reserves to provide the necessary liquidity for trading. This move will boost customer confidence and help build long-term trust with the organization. By strictly adhering to the bottom line of customer capital separation, the organization is further enhancing the protection of customers’ assets. This underscores OKX’s commitment to providing high-quality services to its clients. The strengthened overall market monitoring will ensure that OKX continues to provide transparent and efficient services, thereby enhancing its reputation in the market.

In conclusion, OKX Global Institutional Business Department’s proactive compliance preparation in Hong Kong is a significant move. The organization has demonstrated its commitment to regulatory compliance and customer protection, which will enhance its reputation in the market. The decision to set up a dedicated team of experienced professionals will ensure that OKX can continue to provide high-quality services to its clients while adhering to regulatory requirements.

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