BitMEX is preparing to apply for the virtual asset service provider (VASP) license under Hong Kong’s Securities and Futures Commission (SFC) Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022.
Fully committed to embracing Hong Kong’s new regulatory regime and supporting BitMEX traders in this market during the transition, a dedicated service platform, BitMEX Hong Kong mobile app, will be released on 29 May 2023, where verified Hong Kong users can instantly buy and sell cryptocurrencies via 11 spot pairs, as well as convert cryptocurrency safely with over 30 currencies.
Stephan Lutz, Acting CEO & Group CFO at BitMEX, said: “Historically Hong Kong has not just been one of the most popular breeding grounds for crypto innovations, but it is also where our founders first met and conceived of BitMEX. We believe the SFC’s regulatory framework marks a significant milestone for our industry as it will provide standards for virtual assets that are crucial for this fast-growing asset class. We are delighted to see the administration’s commitment to building a Web3 digital economy, one that begins with establishing clear guardrails and regulations. We are optimistic that Hong Kong will achieve its ambition of becoming a world-leading Web3 role model city and potentially the Web3 hub for China in years to come.”