Hong Kong cryptocurrency trade HKVAEX has not utilized for a digital asset trading platform license with Hong Kong’s Securities and Futures Commission (SFC), a spokesperson for HKVAEX has stated.

Amid a number of reviews erroneously suggesting that HKVAEX has utilized for an SFC license, the HKVAEX consultant claimed the crypto trade has but to submit an software.

“We’re nonetheless getting ready for the appliance in the intervening time,” the HKVAEX consultant advised Cointelegraph on Nov. 27. The spokesperson careworn that HKVAEX shouldn’t be confused with VAEXC, which utilized for a crypto license in Hong Kong on Oct. 25, in response to SFC information.

“VAEXC is one other applicant, and so they don’t have anything to do with us,” the HKVAEX consultant stated, including that the agency is unrelated to HKVAEX.

Hong Kong VAEXC license software. Supply: SFC

The information got here a number of weeks after the Hong Kong-based publication South China Morning Put up (SCMP) reported that Binance was behind the HKVAEX trade. In accordance with SCMP sources, HKVAEX was arrange by Binance to pursue a crypto license in Hong Kong. The report additionally claimed that HKVAEX’s website makes use of Binance servers to fetch content material.

The logos of cryptocurrency exchanges HKVAEX and Binance. Supply: SCMP

HKVAEX and Binance didn’t reply to Cointelegraph’s request for touch upon alleged hyperlinks between the platforms.

Associated: Interactive Brokers Hong Kong licensed in Hong Kong for retail digital asset trading

In accordance with information from SFC, OSL Digital Securities and HashKey exchanges are the one two crypto trading platforms which have been licensed as digital asset trading platform operators as of Nov. 27. In August 2023, OSL and HashKey turned the primary crypto exchanges to begin providing crypto trading companies to retail prospects in Hong Kong beneath the nation’s new crypto rules.

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