Crypto scam cases in Hong Kong rose by 170% in a year, prompting the Securities and Futures Commission to demand licensing applications from exchanges like OKX and Bybit to combat fraud and secure investor trust. As regulatory pressure mounts, the approval of reputable exchanges is crucial for Hong Kong's crypto market to thrive and establish itself as a trusted digital asset hub.
WeatherlyThe move mirrors that of Binance, the world's largest crypto exchange, in terms of leaving Canada.
OthersThis latest approval highlights Bybit's continued commitment to expanding its presence in emerging and dynamic markets.
OthersBybit and Swyftx are the latest victims of the spreading crypto contagion, with both firms announcing job cuts in the wake of FTX collapse.“
decryptBybit is the latest crypto exchange to slash a sizeable portion of its workforce.
OthersHuobi and Bybit have publicly provided their proof of reserves to assure investors.
BeincryptoBeincryptoBen Zhou, the founder of Bybit, said that the exchange is putting some focus on educating users who are new to crypto.
Cointelegraph"Bybit responded to the OSC’s enforcement action, maintained an open dialogue, provided requested information, and committed to engaging in registration discussions," said the OSC.
CointelegraphThe function enables users to speculate on future prices of cryptos and settle their trades using USDC.
Cointelegraph