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Analysis: Upgrading of License No. 1 is Only for Distribution, Chinese Securities Firms Currently Unable to Build Crypto Trading Platforms
Summary: According to reports, as disclosed by the Hong Kong Securities and Futures Commission, as of June 24, a total of 40 institutions have upgraded to License No. 1, which allows existing securities trading licenses to provide virtual asset trading services through comprehensive account arrangements, including 38 securities firms, 1 bank, and 1 internet company. Industry ...
According to reports, as disclosed by the Hong Kong Securities and Futures Commission, as of June 24, a total of 40 institutions have upgraded to License No. 1, which allows existing securities trading licenses to provide virtual asset trading services through comprehensive account arrangements, including 38 securities firms, 1 bank, and 1 internet company.
Industry insiders point out that the License No. 1 obtained by Chinese securities firms (upgraded) is only for distribution purposes, and securities firms cannot build their own cryptocurrency trading platforms, but rather connect clients to existing cryptocurrency trading platforms. (Economic Daily News)
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Link: Analysis: Upgrading of License No. 1 is Only for Distribution, Chinese Securities Firms Currently Unable to Build Crypto Trading Platforms [Copy]
