OKX Exchange has announced that it has established a new company in Hong Kong and applied for a virtual asset service provider (VASP) license under the upcoming Anti-Money Laundering and Anti-Terrorist Financing Regulations 2022. This move is in line with the company’s commitment to compliance and ensuring the protection of its customers’ assets.

Leading the Way in Compliance

OKX Exchange’s decision to apply for the VASP license underscores its commitment to providing a transparent and secure trading platform for its users. Currently, only two companies in Hong Kong have obtained this license, namely OSL and Hashkey. By joining this exclusive club, OKX Exchange will be able to offer a more secure and regulated environment for its customers.

Enhancing Trust and Confidence in Cryptocurrency Trading

The VASP license is a crucial step towards building a safer and more stable cryptocurrency ecosystem. With the new regulations set to come into effect on June 1, 2023, all virtual asset service providers must be licensed in Hong Kong. OKX Exchange’s move towards obtaining the VASP license will help to build trust and confidence in the cryptocurrency industry.