Digital asset companies supplier Gate Group, the corporate behind the crypto trade Gate.io, has introduced its newest digital asset buying and selling platform in Hong Kong.
The Gate.HK platform commenced registration and buying and selling companies on Could 23. Customers can now make digital asset deposits and withdrawals, in addition to have interaction in spot buying and selling of assorted cryptocurrencies equivalent to Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). Gate.HK seeks to supply a various vary of buying and selling companies that cater to retail customers {and professional} buyers.
Gate Group envisions increasing the capabilities of Gate.HK, desiring to introduce extra companies that present customers with a extra in depth array of buying and selling choices. Every new product and repair might be tailor-made to satisfy the particular wants of customers whereas adhering to regulatory necessities in Hong Kong.
In February, Gate.io introduced plans to ascertain a presence in Hong Kong after the native authorities allotted 50 million Hong Kong {dollars} ($6.4 million) to help Web3 initiatives as a part of the town’s 2023-24 funds.
Associated: Gate.io pledges $100M to revive crypto and rebuild investor confidence
On Could 23, the Hong Kong Securities and Futures Fee (SFC) introduced its intention to permit licensed platforms to cater to retail investors. The regulator acknowledged that digital asset buying and selling platform operators prepared to stick to the proposed pointers might apply for a license. These pointers embody numerous facets, together with asset custody security necessities, cybersecurity requirements and the segregation of consumer belongings, amongst others.
Within the announcement, the SFC additionally expressed its intent to implement a number of sturdy measures to safeguard retail buyers. These measures embody efficient governance, suitability assessments through the onboarding part, heightened scrutiny of token properties, admission necessities and clear disclosure practices.
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