Hong Kong implements a dual license system for virtual asset trading platforms, and OSL and HashKey are applying for the second type of license

Odaily Planet Daily News Hong Kong's licensing system for operators of virtual asset trading platforms is a "dual license" system. In addition to the "Securities Tokens" applicable to the licensing system of the "Securities and Futures Ordinance", there is another "non-security tokens" applicable to the "Anti-Money Laundering Ordinance" that will come into force on June 1, 2023. licensing system. Currently, several virtual asset trading platforms including OSL Exchange and HashKey Exchange are applying for the second type of license, but no license has been granted yet. The Hong Kong Securities Regulatory Commission previously stated that the terms and characteristics of virtual assets may evolve over time, and the criteria for defining "security tokens" and "non-security tokens" may also change. Therefore, in order to ensure compliance, virtual asset platforms should hold Dual license. (Caixin)