BiyaPay Responds to "Unlicensed in Hong Kong Region" Statement
2 hours ago
On September 25th, as per an official announcement from BiyaPay, in response to the recent statement by the Securities and Futures Commission of Hong Kong (SFC) regarding "unlicensed in the Hong Kong Region", BiyaPay has provided a response.
BiyaPay stated that the company currently does not hold a stock trading license or a cryptocurrency trading license in the Hong Kong region and strictly complies with the relevant laws and regulations of the Hong Kong SFC. It clearly states that BiyaPay does not provide stock and cryptocurrency trading services to residents of the Hong Kong region.
At the same time, BiyaPay is steadily moving forward with its global compliance process. The official disclosure mentioned that the company has obtained the Financial Service Provider (FSP) license in New Zealand, established a team in the United States, and is actively applying for a Broker license in the US. Additionally, BiyaPay is also investing in and holding stakes in local securities and crypto-related licenses in Hong Kong while concurrently advancing regulatory applications in multiple jurisdictions, including:
· EU MiCA and VASP licenses
· New Zealand FMA license
· Cayman SIBL Securities Investment Business License and Banking License
· US MTL (Money Transmitter License) License
· US RIA (Registered Investment Adviser) License
Meanwhile, BiyaPay is preparing BVI and Cayman funds and accelerating the development of the BIYA Chain to promote on-chain trading of US stocks. The official statement mentioned that through continuous improvement of licensing arrangements and asset management capabilities, BiyaPay is committed to establishing a more robust and transparent global compliance system.
BiyaPay emphasized that in the next 2-3 years, compliance construction will be the company's primary strategic direction. The platform always adheres to the concept of "user asset security first" and will continue to increase compliance investment to create a secure, transparent, and sustainable trading environment for global users and further enhance customer trust. About BiyaPay: BiyaPay is a multi-asset trading wallet platform that covers areas such as international remittances, US and Hong Kong stock trading, cryptocurrency spot and derivatives trading, and asset management. BiyaPay is committed to providing users with secure, convenient, and compliant global financial services.
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