HashKey crypto exchange eyes Hong Kong listing this year

HashKey Group, the operator of Hong Kong’s leading licensed crypto exchange, has reportedly filed for an initial public offering (IPO) in the city, potentially raising up to $500 million. The IPO plans were reported by Bloomberg, citing anonymous sources, and the listing could occur this year. HashKey is the top crypto exchange in Hong Kong with a 24-hour trading volume of nearly $117 million. However, its success has attracted scammers; reports indicated that 45 impersonators were identified, leading the Securities and Futures Commission (SFC) to confirm that the exchange has no affiliation with these fraudulent platforms. In recent months, Hong Kong has tightened its cryptocurrency regulations, particularly with new custody rules and warnings regarding on-chain derivatives trading. In September, HashKey's CEO advocated for disciplined growth within the crypto space. Additionally, the company gained significant funding earlier this year, achieving a $1.5 billion valuation in February, following a previous valuation exceeding $1 billion. The recent regulatory landscape and market developments continue to shape HashKey's strategies and operations.

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