Hong Kong Emits First Crypto License to Fidelity-Backed Company for Operations with BTC, ETH and STOs

Hong Kong Emits First Crypto License to Fidelity-Backed Company for Operations with BTC, ETH and STOs

Gate Trade News Wednesday, December 16, 2020 73 0

Chinese crypto journalist Colin Wu has tweeted an exclusive announcement that Hong Kong regulators have finally issued a crypto trading license to OSL Digital Securities owned by crypto company BC Group, which is backed by Fidelity.

 

Now, the company is allowed to conduct regulated brokerage on crypto assets and provide automated trading with Bitcoin (BTC) and Ethereum (ETH) and to conduct security token offerings (STOs).

 

Colin Wu has shared insider data that a regulator in Hong Kong, the Securities and Futures Commission (SFC), has issued the first license for crypto assets to OSL Digital Securities.

 

This company is a unit of the Hong Kong-based crypto company BC Group, in which Fidelity acquired a $14.2 million stake in February of this year.