Hong Kong crypto platform HKVAX receives approval-in-principle from SFC

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On August 7, the SFC published a warning to VATPs that are yet to get properly licensed not to mislead users, particularly through statements published in relation to “their intention to apply for licences.” 

According to the regulator, such announcements are likely to “give the public a false sense of assurance” that the VATP is compliant with SFC regulations.

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