SEBA Bank, a Switzerland-based crypto-focused bank, has secured an in-principal license to offer crypto services in Hong Kong. The license, granted by the Securities and Futures Commission (SFC), allows the bank to offer over-the-counter crypto derivatives and other products, as well as virtual assets investment advice and asset management for selected crypto accounts.SEBA Hong Kong’s Asia-Pacific CEO, Amy Yu, commented on the development, noting that the SFC’s regulatory framework for digital assets makes Hong Kong an attractive hub for crypto service providers. Furthermore, she noted that the clear framework provides vast growth potential for Hong Kong’s virtual asset industry. Moreover, the ban on crypto trading in mainland China presents enormous opportunities for Hong Kong to explore the Chinese market, as it is China’s Special Administrative Region, strategically located near the mainland.SEBA applied for the license in Hong Kong due to requests from crypto firms who faced challenges accessing or managing their crypto holdings through traditional service providers, as well as from family and private businesses who wanted professional digital assets management services.SEBA joins a host of others in Hong Kong’s regulated crypto market, which has seen heightened crypto regulatory activity in recent months. The city introduced a crypto asset regulatory framework in June, which mandates cryptocurrency trading service providers and exchanges to procure licenses from the SFC. Following the framework introduction, Hashkey Exchange and OSL have both obtained licenses to offer crypto trading services in Hong Kong. SEBA’s in-principal approval marks the third location, after Abu Dhabi and Switzerland, where the Swiss bank has pursued an operational license.

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Information	Details
Geography	Asia
Countries	🇨🇭 🇭🇰 🇨🇳
Sentiment	neutral
Relevance Score	8
People	Hong Kong Virtual Asset Exchange, OSL, Amy Yu, Hashkey Exchange, SFC
Companies	SEBA Bank, Securities and Futures Commission (SFC), OSL, Hashkey Exchange, Hong Kong Virtual Asset Exchange (HKVAX)
Currencies	Ethereum, Hong Kong Dollar, Swiss Franc, Bitcoin
Securities	None