In light of the recent measures and announcements by the Securities and Futures Commission of Hong Kong (SFC), Kikitrade would like to alert users to beware of suspicious virtual asset trading platforms.
We hereby declare that Kikitrade has not submitted an application for the Hong Kong Virtual Asset Trading Platform (VATP) license at this time. According to the new regulatory regime for VATP, existing VATPs operating in Hong Kong are allowed to continue their operations during the twelve-month transitional period (i.e. until 31 May 2024). We are actively assessing relevant regulatory guidelines and strategizing accordingly. We shall soon make further announcements regarding our plans for the future and upcoming arrangements.
Kikitrade has always prioritized and complied with the regulations and requirements imposed or recommended by the relevant authorities. Following SFC's previous announcements and guidelines regarding virtual asset trading platforms, we have since December 2022 disabled saving services and suspended all marketing activities in Hong Kong.
Please rest assured that all user assets on the platform remain unaffected, and all trading and deposit/withdrawal functions remain fully operational.