Hong Kong’s markets regulator has agreed in principle to issue a licence to a cryptoasset firm for the first time. OSL Digital Securities, part of Fidelity-backed BC Group, said on Friday it had received the approval in principle, according to a Reuters report.
BC Group provides business park and advertising services as well as its cryptocurency business, which accounts for the bulk of its revenues. The company made a net loss of US$13.13 million in H1 2020.
LeapRate reminds that OSL shared it had become the first firm to apply for a digital asset licence from Hong Kong’s SFC under new rules allowing crypto exchanges to opt into regulation back in November 2019. This is the first company that has received such approval.