{"id":589115,"date":"2023-08-30T04:00:00","date_gmt":"2023-08-30T01:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/seba-bank-secures-in-principle-nod-for-crypto-services-in-hong-kong\/"},"modified":"2023-08-30T04:00:00","modified_gmt":"2023-08-30T01:00:00","slug":"seba-bank-secures-in-principle-nod-for-crypto-services-in-hong-kong","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/seba-bank-secures-in-principle-nod-for-crypto-services-in-hong-kong\/","title":{"rendered":"# SEBA Bank secures in-principle nod for crypto services in Hong Kong"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-08\/bdc9df13-6a61-4e7a-827c-183475a88fdb.jpg\" \/><\/p>\n<p itemprop=\"description\" class=\"post__lead\" data-v-2649fa34> SEBA Hong Kong\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval joins a flurry of regulated crypto activity that\u2019s taken place over the past month. <\/p>\n<p><\/p>\n<div class=\"post-content\" data-v-2649fa34>The Hong Kong arm of crypto-friendly Swiss bank SEBA Bank has received in-principle approval from the Hong Kong Securities and Futures Commission (SFC) allowing it to deal in virtual assets.<\/p>\n<p>On Aug. 30, SEBA Hong Kong said its in-principle approved license would allow it to operate with crypto products such as over-the-counter derivatives, advise on virtual assets and conduct asset management for discretionary accounts in virtual assets.<\/p>\n<p>Speaking to Cointelegraph the Asia-Pacific CEO of SEBA Hong Kong Amy Yu said Hong Kong provides enormous potential due to the SFC\u2019s virtual asset regulatory framework and the city\u2019s legal system.<\/p>\n<p>Yu added while China has a crypto trading ban, Hong Kong is \u201cwell-positioned to tap into the Chinese market when it opens up\u201d as its in a strategic location in being close to the mainland, while also being a Special Administrative Region of China.<\/p>\n<blockquote><p>\u201cHong Kong may once again serve as a gateway to China, delivering the significant potential of cryptocurrencies and blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>.\u201d<\/p><\/blockquote>\n<p>On its decision to pursue a local license, Yu said SEBA received inquiries from crypto companies who had \u201cdifficulty in accessing and managing their digital assets holdings via traditional providers\u201d along with interest from private wealth and family offices.<\/p>\n<p>In Switzerland, SEBA Bank offers both traditional banking and crypto services such as trading, staking, lending and custody.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>\u2018Breakthrough growth\u2019 will be driven by Web3: Hong Kong financial secretary<\/em><\/strong><\/p>\n<p>SEBA\u2019s approval in principle comes amid a flurry of regulated crypto activity in Hong Kong.<\/p>\n<p>Crypto exchange HashKey \u2014 the first exchange in Hong Kong to get regulatory clearance \u2014 was reported to begin offering retail trading in Bitcoin (BTC) and Ether (ETH) on Aug. 28.<\/p>\n<p>Its peer trading platform OSL also received the SFC\u2019s approval to offer retail trading. HashKey and OSL are currently the only two fully licensed exchanges in Hong Kong.<\/p>\n<p>That may soon change as on Aug. 11 the Hong Kong Virtual Asset Exchange (HKVAX) was given in-principle approval from the SFC to operate a crypto trading platform.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Asia Express: China\u2019s risky Bitcoin court decision, is Huobi in trouble or not?<\/em><\/strong><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/seba-bank-hong-kong-crypto-licence-in-principle-approval\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEBA Hong Kong\u2019s approval joins a flurry of regulated crypto activity that\u2019s taken place over the past month. The Hong Kong arm of crypto-friendly Swiss bank SEBA Bank has received in-principle approval from the Hong Kong Securities and Futures Commission (SFC) allowing it to deal in virtual assets. On Aug. 30, SEBA Hong Kong said&#8230;<\/p>\n","protected":false},"author":1,"featured_media":589116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDgvYmRjOWRmMTMtNmE2MS00ZTdhLTgyN2MtMTgzNDc1YTg4ZmRiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74888,25196,71939,117,43256],"class_list":["post-589115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-banking","tag-asia","tag-banks","tag-business","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/589115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=589115"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/589115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/589116"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=589115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=589115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=589115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}