{"id":23550,"date":"2024-06-25T20:00:45","date_gmt":"2024-06-25T17:00:45","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23550"},"modified":"2024-06-25T18:06:16","modified_gmt":"2024-06-25T15:06:16","slug":"dfx-labs-nears-full-operational-license-in-hong-kong-after-amlo-clearance","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/dfx-labs-nears-full-operational-license-in-hong-kong-after-amlo-clearance\/","title":{"rendered":"DFX Labs Nears Full Operational License in Hong Kong After AMLO Clearance"},"content":{"rendered":"<p>By getting approval under the A<strong>nti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO)<\/strong>, Hong Kong-based crypto trading platform<strong> DFX Labs<\/strong> has significantly moved toward acquiring a full operating licence in the area.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/dfx-labs-nears-full-operational-license-in-hong-kong-after-amlo-clearance\/#Current_Licensing_Situation\" title=\"Current Licensing Situation\">Current Licensing Situation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/dfx-labs-nears-full-operational-license-in-hong-kong-after-amlo-clearance\/#Crypto_and_Web3_Initiatives_of_Hong_Kong\" title=\"Crypto and Web3 Initiatives of Hong Kong\">Crypto and Web3 Initiatives of Hong Kong<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/dfx-labs-nears-full-operational-license-in-hong-kong-after-amlo-clearance\/#Regulatory_Environment\" title=\"Regulatory Environment\">Regulatory Environment<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Current_Licensing_Situation\"><\/span>Current Licensing Situation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Public documents kept by Hong Kong&#8217;s Securities and Futures Commission (SFC) show<strong> DFX Labs<\/strong> is &#8220;deemed to be licensed for providing the virtual asset service.&#8221; DFX Labs has an active AMLO license, however they are not yet approved to provide crypto trading services. The SFC record made clear, &#8220;The applicant is solely licensed for offering the virtual asset service below. Under the AMLO, the SFC HAS NOT issued a license to the Applicant. His or her license application is currently under review.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/sports-tokens-plunge-despite-uefa-kickoff\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: Sports Tokens Plunge Despite UEFA Championship Kickoff<br \/>\n<\/span><\/em><\/a><\/p>\n<p>With Simon Au Yeung, the main applicant, <strong>DFX Labs<\/strong> sought for the Hong Kong cryptocurrency license on December 27, 2023. June 1 saw the platform declared licensed. Still, the DFX Labs website is not licensed virtual asset platform and cannot be accessed by those living in Hong Kong.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_and_Web3_Initiatives_of_Hong_Kong\"><\/span>Crypto and Web3 Initiatives of Hong Kong<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Three Hong Kong government agencies\u2014The Hong Kong Economic and Trade Office in Toronto ( Toronto ETO), Invest Hong Kong (InvestHK), and StartmeupHK (SMUHK)\u2014recently co-hosted an event in Toronto to showcase Hong Kong as a technological center for Canadian crypto and Web3 entrepreneurs. Toronto ETO director Emily Mo underlined during the event Hong Kong&#8217;s startup-friendly policies, which include lower taxes than Canada and a readiness to cooperate with &#8220;pre-commercial specialist technology companies.&#8221; She said, &#8220;Web3\/virtual asset innovations have a creative perspective. These days, trends in Hong Kong and Asia include fintech, health technology, green technologies, property technologies, etc.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Regulatory_Environment\"><\/span>Regulatory Environment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hong Kong ruled in May that all cryptocurrency exchanges operating without licenses had to stop business. This action resulted in multiple retraction of applications for operating licenses among well-known worldwide companies as OKX, Huobi HK, and Bybit.<\/p>\n<p><em><a href=\"https:\/\/t.me\/coinengineernews\"><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By getting approval under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), Hong Kong-based crypto trading platform DFX Labs has significantly moved toward acquiring a full operating licence in the area. Current Licensing Situation Public documents kept by Hong Kong&#8217;s Securities and Futures Commission (SFC) show DFX Labs is &#8220;deemed to be licensed for providing<\/p>\n","protected":false},"author":6,"featured_media":23557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[7002,1469],"class_list":["post-23550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-dfx-labs","tag-hong-kong"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DFX Labs Nears Full Operational License in Hong Kong After AMLO Clearance - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/dfx-labs-nears-full-operational-license-in-hong-kong-after-amlo-clearance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DFX Labs Nears Full Operational License in Hong Kong After AMLO Clearance - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"By getting approval under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), Hong Kong-based crypto trading platform DFX Labs has significantly moved toward acquiring a full operating licence in the area. 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