Over the past few years, the cryptocurrency market has developed to such a scale that only the lazy does not know about it, and many people who do not even think about mining regularly buy and sell blockchain assets. If making money by mining decentralized assets requires considerable investment and technological knowledge, then trading has gradually reached a public level, which allows anyone who has the time and desire to learn the key features of such a business to earn money. We shall discuss the main features of Hong Kong crypto exchange.
Hong Kong crypto regulations
The Hong Kong authorities plan to regulate digital asset transactions in accordance with securities laws. To do this, control over such transactions will be carried out through the Securities and Futures Commission (SFC), according to the Asia Nikkei Review.
All crypto exchanges and traders will come under the control of the commission. Unlike mainland China, where cryptocurrency trading is generally prohibited, Hong Kong is a comfortable territory for crypto market players. However, local authorities are concerned that scammers often use cryptocurrencies to raise funds from investors in various fraudulent ICOs.
For these reasons, the SFC has issued a recommendation that all investment funds are required to obtain a license if at least 10% of their assets are held in bitcoins or other cryptocurrencies. The presence of a license will give the fund the right to engage in trading and conclude transactions for the sale of bitcoin and other assets.
Hong Kong is taking the right steps to regulate relations in the cryptosphere. It is extremely important to verify the details of all participants in transactions.
For the first time, the Hong Kong authorities announced their readiness to strengthen control over the crypto market at the end of June this year. At the same time, it was announced that the Securities and Futures Commission, when developing a mechanism for regulating such transactions, would take into account the interests of all players and the opinion of the expert community.
Let’s take a closer look at the most popular exchange platforms.
This Hong Kong crypto exchange has a history of success since 2014. Its head office is located in Hong Kong. It is noteworthy that from the very beginning of the site’s existence, its management was as open as possible and posted information about itself on the exchanger’s website.
As for the “arsenal” of cryptocurrencies for trading, it is not very large here (Bitcoin, Cardano, Bitcoin Cash, EOS, Ethereum, Chainlink, Litecoin, Tron, Rippe, Tezos), and trading is always carried out in relation to the dollar.
- no need for verification;
- high trading volumes (up to $ 2 billion per day);
- various options for using short positions.
Also, the site of the exchanger proudly reports that due to the high degree of protection, in the entire history of its existence, attackers have not managed to steal a single bitcoin.
Chinese exchange OKEx has been operating since 2015.
supports 10 more common languages, making it as international as possible.
Today, about 500 trading pairs are available for traders on OKEx, which form an indicator of the trading volume approaching the figure of 1 billion US dollars.
Replenishment and withdrawal of funds on the site takes place exclusively in cryptocurrency.
Rumors about hacking of this exchange regularly appeared on the network. However, none of them has been officially confirmed.