Bybit applies for a Virtual Asset Trading License in Hong Kong
Bybit applies for a VATP license in Hong Kong through Spark Fintech Limited. Hong Kong’s favourable regulatory environment contrasts with China’s crypto crackdown. Harvest Fund Management’s spot bitcoin ETF application signals Hong Kong’s growing crypto influence. Bybit, a prominent cryptocurrency exchange, has officially applied for a license to operate as a “virtual asset trading platform” in Hong Kong. The application was submitted through Spark Fintech Limited on Wednesday, as confirmed by the Hong Kong Securities and Futures Commission’s records. The move comes amid a regulatory landscape that distinguishes Hong Kong from its neighbouring Chinese mainland. Bybit’s strategic choice aligns with Hong Kong’s welcoming approach to crypto firms, as seen with its crypto licensing regime initiated in June 2023. Hong Kong emerging as a crypto hub in Asia Unlike the broader crackdown on crypto activities in m...