{"id":180756,"date":"2023-10-25T17:18:13","date_gmt":"2023-10-25T11:48:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180756"},"modified":"2023-10-25T17:18:13","modified_gmt":"2023-10-25T11:48:13","slug":"binance-reportedly-eyeing-foot-in-hong-kong-through-shared-resources-with-hkvaex-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-reportedly-eyeing-foot-in-hong-kong-through-shared-resources-with-hkvaex-crypto-news\/","title":{"rendered":"Binance reportedly eyeing foot in Hong Kong through shared resources with HKVAEX – Crypto News"},"content":{"rendered":"

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Binance, the largest cryptocurrency exchange by trading volume, is reportedly backing HKVAEX, a Hong Kong-based cryptocurrency trading platform, to secure a local crypto license in the region, the South China Morning Post (SCMP) reported<\/a> on Oct. 25.<\/p>\n

HKVAEX was established in Dec. 2022 as a separate entity but reportedly shared resources with Binance.<\/p>\n

HKVAEX informed SCMP that it is an independent platform with a dedicated team that manages it. The platform is presently in the process of seeking a license to operate as a cryptocurrency trading platform.<\/p>\n

On the other hand, a Binance spokesman stated that HKVAEX had no affiliation with the Binance Group of companies.<\/p>\n

Binance and HKVAEX have yet to reply to CryptoSlate\u2019s<\/em> request for comment as of press time.<\/p>\n

In recent months, numerous cryptocurrency exchanges, including OKX<\/a>, have shown interest in expanding to Hong Kong following the introduction of new regulations<\/a> permitting licenses for retail trading. Despite this trend, Binance has not disclosed its intentions regarding acquiring such a license in the region.<\/p>\n

Binance regulatory struggles<\/h2>\n

Binance continues to face heightened regulatory scrutiny over its operations across several jurisdictions globally.<\/p>\n

In the U.S., the Changpeng Zhao-led firm faces legal charges from the Securities and Exchange Commission (SEC<\/a>) and \u00a0Commodity Futures Trading Commission\u00a0(CFTC<\/a>) over its violations of federal laws. Additionally, the Department of Justice (DOJ<\/a>) is reportedly weighing charges against the exchange.<\/p>\n

Across the Atlantic, the cryptocurrency trading company has withdrawn from various European markets<\/a>, such as the Netherlands<\/a> and Cyprus<\/a>, due to challenges in obtaining local licenses.<\/p>\n

In addition to these regulatory concerns, Binance has recently experienced<\/a> a series of departures from its senior leadership team.<\/p>\n

Despite these issues, the exchange has maintained that it strives to remain compliant with local laws wherever it operates.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Binance, the largest cryptocurrency exchange by trading volume, is reportedly backing HKVAEX, a Hong Kong-based cryptocurrency trading platform, to secure a local crypto license in the region, the South China Morning Post (SCMP) reported on Oct. 25. HKVAEX was established in Dec. 2022 as a separate entity but reportedly shared resources with Binance. HKVAEX informed […]<\/p>\n","protected":false},"author":2,"featured_media":180757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-180756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180756"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180756\/revisions"}],"predecessor-version":[{"id":180759,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180756\/revisions\/180759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180757"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}