Cryptocurrency Q&A
Is OSL a 'approved-in-principle' crypto company in Hong Kong?
Is OSL a 'approved-in-principle' crypto company in Hong Kong?
SumoHonorable
Sun Jul 14 2024
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7 answers
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Could you please elaborate on the status of OSL as an 'approved-in-principle' crypto company in Hong Kong? Specifically, what are the criteria and requirements for such approval, and how does OSL fulfill them? Are there any regulatory bodies or authorities that oversee this approval process? Additionally, what does this approval entail for OSL in terms of its operations, services, or legal standing in Hong Kong? Your insights would be greatly appreciated.
7 answers
Giulia
Tue Jul 16 2024
The Type 1 license allows OSL to engage in securities trading activities, including the buying and selling of cryptocurrencies and related products.
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ZenHarmonious
Tue Jul 16 2024
BC Group's cryptocurrency subsidiary, OSL, has been granted an "approval-in-principle" by Hong Kong's Securities and Futures Commission (SFC) for its license application.
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VoyagerSoul
Tue Jul 16 2024
Meanwhile, the Type 7 license enables OSL to provide automated trading services, leveraging advanced technologies to facilitate efficient and secure trading.
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CryptoVisionary
Tue Jul 16 2024
The SFC's approval is a testament to OSL's robust compliance framework, technological capabilities, and commitment to industry best practices.
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KimonoGlory
Tue Jul 16 2024
This approval relates specifically to OSL's application for Type 1 and Type 7 licenses, which respectively cover dealing in securities and automated trading services or ATS.
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