Coinbase, KuCoin, others file crypto license applications in Turkey

As the Turkish Capital Markets Board continues to update the list and companies work to meet regulatory requirements, the Turkish crypto market is poised for significant changes.

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Nomura crypto arm Laser Digital bags Abu Dhabi license

The firm chose to expand into Abu Dhabi due to the innovation-friendly crypto regulations.

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Hong Kong crypto exchange folds to regulatory pressure

Gate.HK plans a major overhaul to comply with regulations and aims to relaunch services after obtaining the necessary licenses.

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Crypto exchanges exit Hong Kong license race ahead of May deadline

The queue of crypto exchanges for operational licenses in Hong Kong is shrinking as seven exchanges, including IBTCEX and Huobi HK, withdraw applications ahead of the May 31 deadline.

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HashKey Capital Secures Dual Licenses for Retail Crypto Services in Hong Kong

The virtualasset management provider HashKey Capital Limited has secured both Type 4 andupgraded Type 9 licenses from the Securities and Futures Commission (SFC),becoming the first licensed corporation to offer a complete suite of securitiesand virtual asset management and advisory services to retail investors in HongKong.

Representativesof the company told Finance Magnates that this move aims to positionHashKey Capital as one of the leading cryptocurrency firms operating in theregion.

HashKey Capital SecuresDual Licenses in Hong Kong

The Type 4license, obtained under license number BOP237, authorizes HashKey Capital toprovide securities and virtual asset advisory services, subject to conditionssuch as due diligence and investor knowledge assessments.

https://t.co/ervI3yxvKy

Thismilestone follows the firm's successful Type 9 license upgrade earlier thisyear, which allowed it to manage virtual asset investment products for retailinvestors.

We are nowthe only entity with double licensure in Hong Kong, Jupiter Zheng, the ResearchDirector at HashKey Capital, explained to Finance Magnates. This meanswe can offer a full suite of products and services for retail and institutionalinvestors.

As heemphasized, the company offers several different products, which can be broughttogether thanks to the dual license. Among them are in-house fund offerings,investment product advisory, research reporting, and investor education indigital assets.

For TradFiinvestors, these licenses increase confidence in our ability to bring compliantinvestment services to the public, added Vivien Wong, the Partner Liquid Fund atHashKey Capital.

A month ago, the Asian firm also introduced the HashKey Global exchange after obtaining a license in Bermuda to offer regulated digital asset trading services.

Suitability Test

To accessHashKey Capital's virtual asset advisory services, all clients must pass asuitability test, which helps the firm understand investors' financial status,geopolitical status, investment perspective, and risk tolerance

Allclients, whether they are retail or institutional investors, must pass asuitability test, before HashKey Capital can perform its virtual assetsadvisory services to them, Wong, added. The suitability test will helpHashKey Capital to understand the financial status and can determine which kindof advice to be delivered to them.

As she emphasized,additional tests will be conducted regularly, and KYC procedures will becarried out for their investors.

The latestmoves follow the introduction of the Bosera HashKey Bitcoin and Ether spotETFs, managed by Bosera Asset Management (International) Co., Limited, withHashKey Capital Limited serving as the sub-investment manager.

Since itsinception, HashKey Capital has managed over $1 billion in client assets and hasmade more than 500 investments in infrastructure, tools, and applications

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Crypto Exchange Binance Withdraws Crypto License Application in Germany

Binance has withdrawn its application for a crypto license in Germany. The German Federal Financial Supervisory Authority (BaFin) advised the exchange to withdraw its application. (Read More)

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Bybit Expands Global Presence With Cyprus Crypto License

Bybit, the third biggest crypto exchange in the world, is expanding its global presence. Today, the exchange announced that it has been granted a license to operate a cryptocurrency exchange in Cyprus and provide custody services for digital assets.  Expanding The Crypto Exchange’s Global Footprint Bybit obtaining a license to operate in Cyprus is a [...]

The post Bybit Expands Global Presence With Cyprus Crypto License appeared first on Crypto Breaking News.

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French lawmakers agree to loosen rules in proposed crypto influencer bill

Previously, the bill restricted influencer marketing to only licensed crypto firms, of which there are currently none in France.

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German banking giant Commerzbank applies for crypto license

A spokesperson for Commerzbank confirmed to local media that it applied for the license with BaFin earlier this year in a first for a major bank in Germany.

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Alchemy Pay expands US compliance with four new state licenses

Alchemy Pays new MTL licenses in Minnesota, Oklahoma, Oregon and Wyoming bring its total to eight US states.

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Ripple receives in-principle license approval in Dubai

Ripple has acquired in-principle financial services license approval from Dubais DFSA, moving closer to offering cross-border crypto payment services in the UAE.

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Binance Acknowledged in El Salvador, Granted Crypto Exchange License

Binance has obtained two licenses in El Salvador from the country’s central bank and the commission in charge of digital assets. The licensing brings the total number of countries acknowledging the cryptocurrency exchange to 18, Binance said in a statement today (Tuesday).

The Central Bank of El Salvador awarded Binance a Bitcoin Services Provider (BSP) license, while the Salvadorian National Commission for Digital Assets issued the exchange a non-provisional Digital Services Provider (DASP) license, the company said.

Binance Expands Crypto Services

Commenting about the approvals, Daniel Acosta, Binance’s General Manager for Columbia, Central America, and the Caribbean, said: "These licenses allow Binance to expand the products and services offered including options tailored to the needs of our customers in El Salvador. It is also a great opportunity to collaborate closely with governmental authorities to support the adoption of crypto assets in the country, foster financial inclusion, innovation and ensure customer protection."

In April, El Salvador granted Bitfinex the country’s first license for digital asset services, the company announced. The license was issued to Bitfinex Securities and allowed it to offer tokenized securities in the Central American nation. During the announcement, Bitfinex said the license would enable it to raise capital through tokenized securities.

El Salvador’s Crypto Adoption

El Salvador became the first country to make Bitcoin a legal tender in 2021. The digital asset was promoted by the country’s President Nayib Bukele as a solution to making banking easy for the Salvadorans. Although the step attracted criticism from the IMF because of the volatility of Bitcoin, El Salvador unveiled plans to establish laws governing digital assets.

In January, Reuters reported that El Salvador had passed a bill for the regulations of the issuance of other digital currencies besides Bitcoin. Dubbed the Digital Asset Securities Law (DASL), the legislation reportedly aims to attract foreign investors and create financial opportunities in the country.

Besides that, the new law governs the issuance of Bitcoin-backed bonds, also known as 'Volcano Bonds'. The bonds were announced by the Salvadorian government in 2021 and allow for the construction of a Bitcoin city in the country.

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Blockchain.com scores payment license from Singapore central bank

Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank — the Monetary Authority of Singapore (MAS). Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) license from MAS on Aug. 1 allowing it to provide what the regulator calls digital payment token services to institutional and accredited investors. The [...]

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Binance Reportedly Denied Crypto License in Germany

Germany’s financial regulator has refused to grant Binance a crypto custody license, according to a media report. A rejection would prevent the exchange from advertising and growing in the major European market and deal another blow to its efforts to do regulated business on the Old Continent. Germany Rejects Binance Bid to Obtain Bafin License

The post Binance Reportedly Denied Crypto License in Germany appeared first on BTC Ethereum Crypto Currency Blog.

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