4 More Virtual Asset Trading Platforms Licensed In Hong Kong
By Kapil Rajyaguru
4 More Virtual Asset Trading Platforms Licensed In Hong Kong.
The Hong Kong Securities and Futures Commission (SFC) has more than doubled the number of approved virtual asset trading platforms (VATPs) with the addition of four firms.
Accumulus GBA Technology (Hong Kong), DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology (BVI) received licenses on Dec. 18. They joined HashKey, OSL, and HKVAX. The SFC announced that the agency’s swift licensing procedure approved the new exchanges for deemed-to-be-licensed VATP applicants.
The newly approved exchanges underwent on-site inspections and responded to feedback from the SFC. The inspections concentrated on safeguarding client assets, Know Your Customer processes, and cybersecurity.
El Salvador Makes Bitcoin Payments Voluntary In $1.4bn IMF Loan Deal.
As part of a $1.4 billion loan deal with the International Monetary Fund, El Salvador plans to make merchant acceptance of Bitcoin voluntary, unwind its involvement in its little-used Chivo wallet, and restrict public sector engagement in Bitcoin-related economic activity.
The Central American nation will get $1.4 billion from the IMF over the next 40 months after El Salvador agreed to measures aimed at dropping its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.
The agreement will also see additional loans from other global banks, including the World Bank, for a total financing deal of over $3.5 billion.
Trump Backed WLFI Teams Up with Ethena Labs.
In an update on X, World Liberty Financial (WLFI) shared news about a long-term partnership with Ethena Labs. The integration will initially start by adding Ethena’s yield-bearing token, sUSDe, into the WLFI ecosystem. The WLFI platform will initially accept Ethena as collateral, utilizing the Aave backend. Ethena’s Total Value Locked (TVL) and user base will undoubtedly enhance the Aave setup.
The partnership will begin by exploring the use of sUSDe as collateral. This could help WLFI’s Aave gain instant access to Ethena’s Total Value Locked (TVL) and many users. This week, WLFI’s governance will decide whether to approve the use of sUSDe as collateral.
Binance.US Says it Aims to Restore USD Services Next Year.
Building on the momentum of anticipated changes to U.S. crypto policy, Binance.US said it aims to restore its USD services in early 2025.
It marks the exchange’s first major operational shift as regulatory pressure forced the exchange to suspend fiat trading last year. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals.
Binance.US functions as a separate entity from Binance, the global crypto exchange, operating under BAM Trading Services to comply with U.S. regulations. However, it offers a limited range of products and services compared to its global counterpart.
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