The Chinese state, GUOOOI Junan International, has obtained an organizational approval to provide cryptocurrency trading services in Hong Kong.
The news arises just as the Hong Kong government revealed a comprehensive leap frame. The new BluePrint offers a Stablecoin license, the asset symbol in the real world, and the infrastructure of the digital asset market.
GUOOOI Junan Licensing Licensing Signs for the main victory of the Hong Kong Digital Asset Strategy
On Wednesday, Guotai Junan Declare The Hong Kong Securities and Futures (SFC) committee has promoted type 1 license. It was pre -handled on traditional securities dealing, with a promotion that allows trading in the encrypted currency.
Mediation said it will work through a licensed coding platform from SFC, allowing customers to circulate digital assets in a compatible manner.
The market was enthusiastic. The Guootai Junan shares rose nearly 470 %. It rose from $ 1.24 Hong Kong ($ 0.16) to $ 7.02 Hong Kong ($ 0.91) inside today Wednesday. The arrow is traded at $ 3.54 Hong Kong ($ 0.46) to this writing.
Despite the slight withdrawal, the stock remains higher than the highest approval levels. This reflects the investor optimism about the company’s invasion of digital assets.
Guotai Junan becomes one of the first traditional Chinese brokerage firms that have obtained organizational approval of Hong Kong encryption trading, amid increasing interest from other mainland institutions.
GUOOTAI Junan Organizational Approval is a strategic victory for Hong Kong. He enhances his ambition to become a center for global digital finance. The mediation, controlled by the state -owned Shanghai Foundation, was announced in Hong Kong in 2010.
Therefore, approval gives the credibility of the city’s coding. According to the state -owned newspaper, Securities Times tracking Licensing promotions to enter the encryption space.
Hong Kong comes out of a jump frame: All you need to know
This announcement coincides with the Hong Kong version of the updated digital asset policy framework known as Leap (legal clarity, expansion of the ecosystem, application concentration, and people’s development).
Politics, unveil On Thursday by financial services, the Treasury Office (FSTB) and other major organizers, it depends on the map of the city’s digital assets in the city 2022 and defines specific initiatives to increase the inclusion of encryption into the prevailing financing.
Under the jump frame:
- A new license system for Stablecoin Exporters will be launched on August 1, allowing the FITCOINS STABLECOINS version.
- The government will issue regular government bonds and enhance symbolic investment funds, and clarify the treatment of stamp fees to support secondary market trading.
- The most distinctive code efforts are planned in the sectors, including precious metals and renewable energy origins such as solar panels.
- Hong Kong financial authorities have also revealed plans to enable the trading of encryption derivatives for professional investors, build on recent approvals on the Spot Crypto investment funds, futures products, and interest services.
Financial Secretary Paul Chan said that the new framework aims to do so Show the practical use of The symbol and building an ecosystem for prosperous digital assets would integrate the real economy with social life.
While China maintains the main mainland for a strict ban on encryption trading, Hong Kong operates under a distinct legal and regulatory system. It provides an organizational sand box for experience and institutional adoption.
Since more Chinese brokerage companies seek to enter the space, with a leap on the basis of distinctive assets and Stablecoin, Hong Kong is quickly formed to be more dynamic encryption in Asia and Web3.
Disintegration
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