🚀 Hong Kong Virtual Asset Exchange Limited Secures VATP License
#HongKong #VirtualAssetExchange #VATPLicense #HKVAX #SFC #Cryptocurrency #OTCTrading #Tokenization #STO #RWA
According to PANews, the Hong Kong Securities and Futures Commission (SFC) has updated its list of virtual asset trading platforms. Hong Kong Virtual Asset Exchange Limited (HKVAX) has obtained a VATP license, making it the third licensed virtual currency platform in Hong Kong. HKVAX announced that in addition to offering over-the-counter (OTC) trading, trading platform services, and custody services, it will also focus on providing Security Token Offerings (STO) and Real-World Asset (RWA) tokenization services.#HongKong #VirtualAssetExchange #VATPLicense #HKVAX #SFC #Cryptocurrency #OTCTrading #Tokenization #STO #RWA
🚀 Hong Kong Virtual Asset Exchange Stake Sold for HKD 15 Million
#HongKong #VirtualAssetExchange #HKVAX #stake #finance #investment #cryptocurrency #JingyiGroup #LeungTakfai #SFC #tradingplatform #HongKongSecurities #digitalassets
According to PANews, Hong Kong Exchanges and Clearing Limited announced that the family of Tang Chengbo has sold a 6.8% stake in Hong Kong Virtual Asset Exchange (HKVAX) for HKD 15 million. The buyers are Jingyi Group and businessman Leung Tak-fai, who acquired approximately 3.8% and 3% of HKVAX for HKD 8.4 million and HKD 6.6 million, respectively. The Hong Kong Securities and Futures Commission records indicate that HKVAX received a virtual asset trading platform license on October 3, allowing it to operate and promote its services to investors in Hong Kong.#HongKong #VirtualAssetExchange #HKVAX #stake #finance #investment #cryptocurrency #JingyiGroup #LeungTakfai #SFC #tradingplatform #HongKongSecurities #digitalassets
🚀 Hong Kong Uncovers Cross-Border Money Laundering Scheme Involving Cryptocurrencies
#HongKong #MoneyLaundering #Cryptocurrency #DigitalBanking #CrossBorder #FinancialCrime #VirtualAssetExchange #HKD #CommercialCrimeBureau #Fraud #CryptoCrime
Hong Kong's Commercial Crime Bureau has exposed a cross-border money laundering operation involving two individuals from mainland China. According to NS3.AI, these individuals utilized fake accounts in digital banks in Hong Kong to launder approximately HKD 230 million. The scheme involved transferring funds obtained from fraudulent activities into traditional bank accounts and subsequently converting them into cryptocurrencies through virtual asset exchanges to obscure the money trail. In late 2024, the individuals received prison sentences of 28 and 43 months, respectively.#HongKong #MoneyLaundering #Cryptocurrency #DigitalBanking #CrossBorder #FinancialCrime #VirtualAssetExchange #HKD #CommercialCrimeBureau #Fraud #CryptoCrime
🚀 South Korea Reviews Virtual Asset Exchange Reforms
#SouthKorea #VirtualAssetExchange #Reforms #FinancialAuthorities #NationalAssembly #VirtualAssets #Brokerage #Custody #Settlement #CustodyBusinessModel #VirtualAssetServiceProviders #MiCA #EUFramework
South Korean financial authorities have informed the National Assembly about their ongoing review of reforms concerning virtual asset exchanges. According to NS3.AI, these exchanges currently integrate brokerage, custody, and settlement functions. The authorities are contemplating the introduction of a specialized custody business model as part of the second phase of virtual asset legislation. This review takes into account existing custody-focused Virtual Asset Service Providers and the European Union's MiCA framework as reference points.#SouthKorea #VirtualAssetExchange #Reforms #FinancialAuthorities #NationalAssembly #VirtualAssets #Brokerage #Custody #Settlement #CustodyBusinessModel #VirtualAssetServiceProviders #MiCA #EUFramework