Last November, the SFC unveiled new rules for regulating cryptocurrency exchanges in the region. Then OSL Digital Securities Ltd became the only company to apply for a license.
On August 25, the SFC tentatively approved an application for a license of a digital asset trading platform operator, but the company had a number of undisclosed conditions to meet.
And today, December 15, a press release was issued by BC Technology Group, of which OSL is a member, which states that it has finally obtained a license that allows the company to conduct regulated brokerage and automated digital asset trading services. In addition to Hong Kong's licenses, OSL has also applied to the Monetary Authority of Singapore for a digital asset license under the Payment Services Act.
First of all, the news is interesting because institutional investors will get access to trading Bitcoin, Ethereum and security tokens. This event is expected to generate interest from industry players to join the market.
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