Announcements Gate.HK is Preparing to Apply for Licences from the Securities and Futures Commission in Hong Kong

Gate.HK is Preparing to Apply for Licences from the Securities and Futures Commission in Hong Kong

2023-08-22 10:46:00 UTC 26790 Read

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We are issuing this notice to keep the public aware of the latest developments about Gate.HK.

Gate.HK is currently preparing to apply for licences from the Securities and Futures Commission (“SFC”) in Hong Kong to carry on business in Type 1 (Dealing in Securities) and Type 7 (Providing Automated Trading Services) regulated activities under the Securities and Futures Ordinance (Cap. 571 of the Law of Hong Kong) and also a licence to carry on business of providing virtual assets service (i.e. operating a virtual asset exchange) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”; Cap. 615 of the Law of Hong Kong).

Whilst Gate.HK is yet to submit its licence applications to the SFC, it has been providing its users virtual asset trading services in respect of non-security tokens since May 2023 through the transitional arrangements under the AMLO.  Please note that security tokens will only be available to selected users after the licences for Type 1 (Dealing in Securities) and Type 7 (Providing Automated Trading Services) regulated activities is granted.

The intention for Gate.HK to apply for licences demonstrates the commitment of Gate.HK to uphold the highest standards of compliance and regulatory adherence in the virtual asset exchange landscape.

Gate.HK operates as an independent platform under a different entity from Gate.io, and its primary focus is on delivering exceptional virtual asset services as a fully compliant virtual asset exchange.  Gate.HK will introduce more products and services as it expands its services in Hong Kong to tailor to the needs of user preferences while complying with the local legal and regulatory regime.  The dedication to striking this balance between innovation and compliance underscores Gate.HK's commitment to fostering a responsible virtual asset trading ecosystem.

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Gate.io Team
August 22th, 2023

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