Bitcoin News Today TheBitTimes.com

Cryptocurrency exchange Bybit has applied for a Virtual Asset Service Provider (VASP) license in Hong Kong, according to regulatory filings. Bybit has joined the list of 14 applicants seeking a license from the Securities and Futures Commission (SFC) to offer services in Hong Kong. According to the regulatory filing submitted on Jan. 31, Bybit wants to offer services in the region through Spark Fintech Limited. The timing and approval status of Bybit’s application by the SFC remains unclear, as other crypto businesses, including OKX, are still awaiting regulatory approval. Thus far, only two companies, OSL Exchange and HashKey Exchange, have received a crypto trading license from the SFC. As of press time, Bybit has not issued any public statements regarding the application. Bybit expressed interest in expanding services in Hong Kong in April 2023, when the Dubai-based crypto exchange outlined plans to establish its central Asian business there. As crypto .news reported, ...

The world’s second-largest crypto exchange by trading volume, OKX, has published its second Proof-of-Reserves (PoR) on its website. As part of its dedication to transparency, OKX will release its PoR on the 22nd of every month. Using open-source software, users may view and independently verify the results of two PoRs on the website. Users may now access OKX reserve ratios for recent and historical data. Added functionality allows users to download files with recent and old data while self-verifying on-chain assets. Users of the crypto exchange will be able to see both the most current update and all previous PoR data following each PoR publishing. The OKX Nansen dashboard shows that over 90% of holdings are made up of BTC, ETH, and USDT. Currently, OKX ’s reserve ratio for Bitcoin (BTC) is 101%, Ethereum (ETH) is 103%, and USDT is 101%. Source: OKX The crypto exchange disclosed more than 23,000 addresses to ensure the transparency of its PoR pro...