NFT News Official TheBitTimes.com

The Swiss bank SEBA received an in-principle license approval from the Hong Kong Securities and Futures Commission (SFC). The in-principle approval from the financial authority will allow the entity to operate in the crypto industry. The company can offer advisory services in the crypto industry and products like over-the-counter derivatives. The Asia-Pacific CEO of SEBA Hong Kong, Amy Yu, explained that Hong Kong has big potential thanks to the new approvals that local financial regulators are currently giving. She added that while China is currently facing a ban on the crypto industry, Hong Kong is positioning itself as a strategic location. You might also like: Hong Kong’s financial secretary Paul Chan sees web3 as future SEBA is the Hong Kong arm of crypto-friendly Swiss bank SEBA Bank. The entity helps companies by giving financial advice and consulting services to manage crypto assets. The Swiss SEBA bank works with traditional banking and crypto services in Swi...

Earlier this month, the Hong Kong Securities and Futures Commission (SFC) announced that it will once again allow crypto trading for retail clients as of June 1. The decision comes after a consultation process with industry stakeholders during the period from 2021 when crypto trading was banned in China and Hong Kong . Despite significant hype surrounding Hong Kong’s lifting of its crypto ban, so far only two crypto exchanges have been registered by the SFC — OSL Exchange and HashKey Pro. However, Huboi announced last week that it has applied with the SFC to offer its services in Hong Kong and OKX has revealed it will be offering crypto trading to Hong Kong residents via its app. Binance has so far not announced that it intends to register with the SFC to offer its services in Hong Kong. The business closed shop in China in 2017 when crypto exchanges were banned. Read more: Hong Kong architect loses millions trading Tether, crypto on scam site Crypto will remain ba...