TechFlow, June 26 — According to Jinshi Data, industry insiders directly involved in virtual asset license applications and system integration revealed that multiple Hong Kong-based brokerages (such as Victory Securities (08540.HK), AID Securities, etc.) have completed upgrades to Type 1 licenses. Guotai Junan International is not the only Chinese brokerage applying for such licenses, and more institutions may join in the future.
These brokerages primarily provide transaction services of a "distribution" nature, rather than operating proprietary exchanges. Specifically, they establish omnibus accounts within licensed exchanges and connect to trading systems to offer clients channels for buying and selling mainstream compliant cryptocurrencies such as BTC and ETH, without involving high-risk altcoins or meme coins.
Currently, the aforementioned local brokerages have already launched similar distribution services. Their compliance requirements regarding customer due diligence (KYC), suitability management, and investor education are essentially consistent with those of Guotai Junan International, and all prohibit residents of mainland China from participating in trading. (Yicai)
