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OSL Digital Securities Restricted (“OSL Digital Securities”), a wholly-owned subsidiary of BC Expertise Group Restricted (Inventory Code: 863), has been granted an uplift to its present license by the Securities and Futures Fee (SFC) of Hong Kong. This fast change permits retail traders to register on its platform and commerce in style cryptocurrencies Bitcoin and Ethereum.
The license uplift aligns with Hong Kong’s new regulatory guidelines, marking a considerable milestone not just for OSL Digital Securities and its dad or mum firm, BC Expertise Group, but in addition for Hong Kong’s place as a forward-thinking hub for digital asset regulation.
This growth is seen as a testomony to the Group’s dedication to compliance, regulation, and excellence within the digital asset area. The Board of BC Expertise Group views this as a major first-mover benefit, reflecting the Group’s technique of prioritizing regulation and compliance. It additional emphasizes how regulation is the inspiration of future development and mainstream acceptance within the digital asset area.
As a part of its dedication to investor safety, the Group will proceed to implement stringent investor safety measures and keep a excessive chilly to scorching storage ratio to make sure the safety of consumer belongings. This transfer positions OSL Digital Securities to steer the transformation of the digital asset market, setting the stage for a extra sturdy and safe digital asset surroundings.
The license uplift is seen as a major step in Hong Kong’s ambition to turn into a number one world hub for digital belongings, permitting retail customers to take part in one of many fastest-growing asset courses. It underscores Hong Kong’s progressive strategy to digital asset regulation.
BC Expertise Group Restricted, included within the Cayman Islands with restricted legal responsibility, operates by way of its subsidiaries, together with OSL Digital Securities. The corporate’s newest announcement was made on a voluntary foundation to tell shareholders and potential traders of the most recent details about the Group.
On the identical day, August 3, 2023, HashKey Trade asserted that it’s the first licensed digital asset change for retail customers in Hong Kong. The improve of its Sort 1 and Sort 7 licenses permits the platform to develop providers to retail customers. Safety measures embody 98% of funds in chilly storage, and the platform has launched a compliant OTC buying and selling service.
HashKey Trade has additionally partnered with Customary Chartered Financial institution and onboarded senior professionals to reinforce providers.
Picture supply: Shutterstock
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