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Elizabeth Wong: I don’t understand Binance’s method and structure of entering the Hong Kong market, and I am not sure whether Binance can obtain a license in Hong Kong.

On November 24th, Elizabeth Wong, the Director of Licensing and Head of Fintech at the Hong Kong Securities and Futures Commission, was asked on the Web3 Harbor podcast if Binance could obtain a license in Hong Kong after pleading guilty in the United States. She stated that without understanding how Binance would enter the market and its structure, it is currently uncertain. Wong was also asked if Binance would seek a license in Hong Kong under the leadership of new CEO Richard Teng, to which she replied that they are currently not on the list of virtual asset trading platforms applying for a license.

Previously, according to sources cited by the South China Morning Post, the Hong Kong cryptocurrency exchange HKVAEX plans to apply for a license in Hong Kong. The sources stated that HKVAEX was established by Binance to obtain a cryptocurrency business license in Hong Kong. The HKVAEX exchange website shows that it is using Binance servers to obtain content, and the two companies' shared codes have similarities, and their terms of use also have almost identical templates, indicating that the two companies may also share legal resources.

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