OKX Approaches the Last Licensing Milestone in Hong Kong for 2024

In an exclusive announcement, OKX Group’s Commercial Director, Jimmy Lai, discloses that the company stands on the brink of securing a coveted cryptocurrency license in Hong Kong. With ambitious plans in mind, OKX Group is poised to draw a substantial wave of retail investors, targeting a range of 100,000 to 200,000 individuals in Hong Kong.

This noteworthy advancement within the cryptocurrency exchange sector represents a crucial stride towards broadening their regional activities.

OKX Group’s pursuit of a license in Hong Kong is regarded as a strategic endeavor aimed at strengthening its foothold and addressing the burgeoning enthusiasm for cryptocurrencies among retail investors. Lai conveyed his confidence that obtaining this license would open the door to an anticipated influx of 100,000 to 200,000 retail investors in Hong Kong, further propelling the cryptocurrency market’s forward momentum.

Nonetheless, experts in the industry, such as Li Zhikai, offer a note of caution regarding the expectation of a surge in the number of licensed securities companies in Hong Kong in the forthcoming year. Zhikai, who closely monitors regulatory developments, foresees a prudent stance from the China Securities Regulatory Commission. He envisions that this regulatory body will impose stringent prerequisites on potential license applicants, with the primary aim of upholding stability and security within the cryptocurrency market.

Zhikai’s perspective underscores the authorities’ preference for vigilant monitoring of the performance and adherence to compliance standards by the initial cohort of license holders before considering any substantial expansion. This cautious approach also serves the dual purpose of protecting the interests of investors and preserving the integrity of Hong Kong’s burgeoning cryptocurrency ecosystem.

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