In a recent development, HKVAEX, a Hong Kong-based crypto exchange rumored to be connected with Binance, has clarified its licensing status.
Learn about their preparation phase, the confusion around VAEXC, and the intricacies of their association with Binance in this detailed update.
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HKVAEX Denies Completed License Application, Confirms Preparation Stage
Reports have been circulating that HKVAEX, a Hong Kong-based cryptocurrency exchange, linked to Binance, had applied for a license with the Hong Kong Securities and Futures Commission (SFC).
However, these reports have been refuted by the company. As reported by "Cointelegraph," HKVAEX clarified that they are currently in the preparation stage of applying for the license, not the application stage as previously reported.
HKVAEX, a virtual currency trading platform based in Hong Kong, has been in the spotlight due to past reports claiming an anonymous source stated, "HKVAEX was established by Binance with the objective of obtaining a virtual currency license in Hong Kong."
At the end of last month, the South China Morning Post (SCMP) reported the possibility of HKVAEX applying for a license in Hong Kong.
Some reports even claimed that HKVAEX had already filed their application.
However, the company has clarified that these reports are incorrect, reaffirming that they are currently preparing for the application.
HKVAEX Distances Itself from VAEXC in License Application List
Furthermore, regarding the listing of "VAEXC" on the Hong Kong Securities and Futures Commission (SFC) official website's "List of Cryptocurrency Trading Platform Applicants," HKVAEX has clarified that VAEXC is a different applicant and is not related to HKVAEX.
The SFC's official website lists "Hong Kong VAEXC Limited" as having submitted a license application on November 25, 2023.
Additionally, while there have been indications of a relationship between HKVAEX and Binance, including joint appearances at past events, collaboration in workshops, HKVAEX referring to Binance as a partner in the past, similarities on both companies' websites, and nearly identical terms of service templates, no comments have been made confirming the nature of their relationship.
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Is Binance Seeking a Hong Kong License Through HKVAEX? Unveiling the Connection
We uncover the mystery surrounding HKVAEX and Binance, detailing shared resources, conflicting statements, and recent joint appearances. Dive in to understand the unfolding story. Contents1 Is HKVAEX an Affiliate of Binance?2 Conflicting Statements on Affiliation3 Multiple Indicators Pointing to a Connection Is HKVAEX an Affiliate of Binance? Recent reports by the South China Morning Post (SCMP) reveal that Binance, a major cryptocurrency exchange, may be attempting to secure a license in Hong Kong via a crypto exchange known as HKVAEX. Although there has been no official statement from either party, SCMP reports that three anonymous industry insiders close to Binance ...
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