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- HashKey Capital Ltd got a green signal from Hong Kong’s Securities and Future Commissions (SFC) to regulate a 100% crypto portfolio.
- Hong Kong stands as a well-prepared nation for the adoption of digital asset platforms.
The East Asian nation of Hong Kong is making efforts towards increasing the growth of crypto assets and digital infrastructure in the country. According to the data published by the Forex study, Hong Kong beats the United States as the best-prepared nation for the adoption of crypto platforms and widespread use of digital currency. Hong Kong stands in the first position with a score of 8.6, followed by the US with 7.7.
Finally, HashKey Capital, the parent company of HashKey Group, received permission from Hong Kong’s Securities and Future Commissions (SFC) for a “Type 9 Asset management” license. The SFC granted a license for HashKey Capital to provide safe and secure portfolio measurements to investors on the basis of regulatory guidelines. This regulation assists investment managers in determining whether to manage a hedge fund, pool fund, or account-related fund.
In addition, the Type 9 license allows the companies to conduct voluntary marketing funds, which are managed by the licensed corporation, and securities analysis. The Type 9 license, with limited access, allows one to carry out basic activities without the assistance of Type 1 and Type 4 licenses. A Type 1 license is utilized for dealing in securities and a Type 4 license deals with advising in securities.
It is not the first company that got approval to provide crypto asset services in the country. Huobi and MaiCapital Limited, major crypto platform organizations in Hong Kong, also became successful in getting a license.
HashKey Capital chairman Dr. Xiao Feng stated in a statement that the organization will help in the development of cryptocurrency platforms and provide security for safe transactions.
“The approval of Type 9 license uplift reinforces our commitment to fostering and advancing the cryptocurrency community in Hong Kong and across Asia” he stated.
HashKey group has been trying to develop a new platform to connect Web 3 developers with institutions in order to support the growth of digital currency industries and blockchain technology in recent years.
What benefits will these companies get from licensing in Hong Kong?
- The country doesn’t impose any restrictions on Foreign investments.
- The Tax regime supports the investors financially.
- There is no need to hold company meetings within the nation.
- Quick approval for business establishment and licensing.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
