SEBA Crypto Bank Receives Preliminary Authorization to Operate in Hong Kong
Date: 2023-08-30 Author: Karina Ziganova Categories: BLOCKCHAIN, BUSINESS
Cryptocurrency bank SEBA has announced that it has received an in-principle approval (AIP) from the Hong Kong Securities and Futures Commission for its subsidiary.
According to the bank, AIP is the first step towards obtaining full permission to conduct transactions with cryptocurrencies and securities. The license will make it possible to trade securities, even such cryptocurrency-related products as OTC derivatives and structured products.
According to the statement, SEBA Hong Kong will be able to provide advice on securities and virtual assets.
Amy Yu, Head of SEBA Asia-Pacific, said:
SEBA wants to be able to serve crypto investors in jurisdictions that have previously recognized the value of digital assets. It seems to us that the potential of Hong Kong to become the leader of the global cryptocurrency market speaks for itself. We also hope to contribute to this movement.”
In addition, in a comment to The Block, she stressed that she sees no difficulties in obtaining the final official permission before the end of 2023.
On August 7, the SFC announced that exchanges that violate the law will not have a license to operate in the cryptocurrency market.
