Crypto exchange OSL to receive green lights from Hong Kong regulator

Monday 24 August 2020 13:53 CET | News

OSL Digital Securities, a Hong Kong-based cryptocurrency exchange, has received a landmark approval-in-principal from the Securities and Futures Commission (SFC).

SFC is a regional regulator that aims to boost its virtual asset oversight in response to anti-money-laundering (AML) and know-your-customer (KYC) concerns. According to CoinDesk, preliminary approval pushes OSL, a subsidiary of Fidelity-backed BC Group, closer to becoming one of the first exchanges licensed to offer automated digital asset trading services under the virtual asset regime SFC unveiled in November 2019.

Full licensure is contingent on OSL satisfying undisclosed conditions, according to Reuters. But OSL is well positioned; it was the first exchange to apply for the license and appears to be the only one this far along.

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Keywords: OSL Digital Securities, crypto exchange, licence, Honk Kong, AML, KYC, digital assets
Categories: DeFi & Crypto & Web3
Countries: Hong Kong
This article is part of category

DeFi & Crypto & Web3