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Hong Kong’s ZA Bank to Roll Out Virtual Asset Retail Services as New Regulations Approach

Hong Kong’s ZA Bank, a unit of China’s ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June. To establish itself as a crypto hub, Hong Kong implemented a new regulatory framework for crypto exchanges last year. Approval from Hong Kong’s top financial watchdog, the Securities and Futures Commission (SFC), is highly sought-after, due to its reputation as a prestigious regulatory body. The SFC has also advised investors to move their digital assets to platforms that are already regulated or in the process of obtaining a license. Currently, only OSL Digital Securities and Hash Blockchain hold licenses for virtual asset trading in Hong Kong.

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