The Hong Kong branch of crypto-backed Swiss bank SEBA Bank has received approval-in-principle from Hong Kong’s Securities and Futures Commission (SFC), allowing it to trade in virtual assets. On Aug. 30, SEBA Hong Kong said its approved-in-principle license would allow it to operate crypto products such as over-the-counter derivatives, advise on virtual assets, and conduct asset management for virtual asset discretionary accounts.
Hong Kong offers great potential due to the SFC’s regulatory framework for virtual assets and Hong Kong’s legal system, Amy Yu, SEBA Hong Kong’s Asia-Pacific chief executive, said in an interview.
