Hong Kong Regulator Gives Crypto Exchange OSL Tentative Licensure Approval
OSL Digital Securities was the first crypto exchange to apply for the SFC's opt-in license last November.
The offering represents 13% of the company's issued share capital.
Non-U.S. clients can still trade the token but need to pre-fund all short trades, the report said.
BC's OSL exchange is the first crypto brokerage to receive Hong Kong regulators' blessing.
The SEC is accusing Ripple of violating federal securities laws via sales of the XRP cryptocurrency to retail consumers.
Crypto hubs like Hong Kong, Singapore and Japan have a clearer regulatory picture going forward and are progressing faster than the U.S. and Europe.