TechFlow reports, according to Oriental Daily News, that HashKey Exchange Business has submitted a license application to the Hong Kong Securities and Futures Commission (SFC). The application is expected to be approved in the coming weeks, with plans to launch its virtual asset trading platform app in the short term.
It is understood that HashKey received positive feedback during the licensing application process. The company stated that obtaining the license marks a significant milestone in its development. Under current regulations, virtual asset platforms must purchase insurance providing 50% coverage for offline-stored "cold wallets" and 100% coverage for online-stored "hot wallets." As for tradable cryptocurrencies, only qualified large-cap virtual assets are permitted, and they must receive prior approval from the SFC.
