The Block Crypto News30 minutes ago

Published on June 04, 2024 10:35 GMT+00:00edited on June 04, 2024 10:39 GMT+00:00

Livio Weng, CEO of HashKey Exchange, indicated that Hong Kong’s financial regulator may have considered the user base from a “sensitive region” during the review of license applications from certain international crypto exchanges.

Weng told The Block in an interview on Monday that he couldn’t elaborate on the “sensitive region,” but it appeared to be a main focus in the negotiations between the Hong Kong Securities and Futures Commission and the exchanges that have now withdrawn their license applications.

The SFC stipulates that crypto trading platforms that fail to submit their license applications by Feb. 29 must close down their businesses in Hong Kong by May 31. The regulator said that after June 1, all VATPs operating in Hong Kong must be either licensed by the SFC, or …