According to the South China Morning Post, sources have revealed that the Hong Kong-based cryptocurrency exchange HKVAEX plans to apply for a license in Hong Kong. Insiders suggest that HKVAEX was established by Binance to obtain a cryptocurrency business license in Hong Kong.
The HKVAEX exchange's website indicates that it is using Binance's servers to host content. Both companies share similar source code, and their terms of use also follow nearly identical templates, suggesting they may also share legal resources.
In response to questions about its relationship with Binance, HKVAEX stated in an email, "HKVAEX is an independent virtual asset trading platform headquartered in Hong Kong, operated by a technical team from the financial services industry and experienced professionals. It is currently preparing to apply for a [SFC virtual asset trading platform] license."
On the other hand, a Binance spokesperson stated that HKVAEX is not a subsidiary of the Binance Group.
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