Hong Kong’s Victory Securities Granted License to Offer Digital Asset Services
Hong Kong-based investment management firm, Victory Securities, has received approval from the Securities and Futures Commission (SFC) to provide digital asset services to retail clients. This makes Victory Securities the first licensed corporation in Hong Kong to offer these services. The company aims to integrate virtual assets with traditional finance and create a platform for retail clients to seamlessly access and trade assets. They also plan to offer investment advice and periodic research reports. Victory Securities praised the commitment of the Hong Kong authority, positioning itself as the International Virtual Asset Center.
Hong Kong’s Web3 Revolution
Victory Securities joins HashKey and OSL Securities as firms with retail crypto licenses in Hong Kong. The city has been commended for its positive stance on digital assets, releasing a regulatory framework that protects both companies and investors. The framework provides a level playing field for market participants. Bitget, however, recently announced the closure of its business in Hong Kong due to market considerations.
Global Efforts in Digital Asset Regulation
Countries like Dubai, Brazil, and Singapore are also working on clarifying their digital asset structures to establish proper regulations, following Europe’s success with the Markets in Crypto Asset (MiCA) regulation.
Hot Take: Hong Kong Establishes Itself as a Hub for Digital Asset Services
Hong Kong continues to solidify its position as a hub for digital asset services with Victory Securities obtaining a license to offer these services. The city’s regulatory framework provides a level playing field while protecting investors. This development showcases Hong Kong’s commitment to embracing digital assets and becoming an international center for virtual asset trading and advisory services.
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