According to South China Morning Post news, Binance established a new cryptocurrency exchange in Hong Kong in order to obtain a license in the region.
It is claimed that the cryptocurrency exchange called HKVAEX, which was founded in December 2022 and started its activities in February 2023, was established by Binance in order to obtain a license in Hong Kong.
HKVAEX managers are preparing to apply for an emitting asset license from Hong Kong. Since last year, many Chinese exchanges with connections to Hong Kong have announced plans to obtain this license. However, Binance has not taken any action on the issue so far.
According to SCMP news, Binance and HKVAEX are in conflict with each other. technical and legal resources shares. Making a statement on the subject, Binance and HKVAEX officials said that HKVAEX an independent organization He said that he is and is not part of Binance Group.
Binance says it tries to act in accordance with local regulations in the regions where it operates. The exchange is currently involved in legal disputes with regulators in the United States.