796Exchange obtained Hong Kong money services license
796The exchange (796 Xchange) is operated by 796 Network Trading Co., Ltd. established in Hong Kong，Is a company covering Bitcoin futures、stock、fund、A comprehensive financial platform for options and financial management businesses，It is also one of the first domestic Bitcoin traders to launch futures and margin trading services.。Based on legal considerations，The platform always uses Bitcoin as the settlement unit，Not directly linked to legal tender，This arrangement is relatively rare in the domestic Bitcoin industry。
93rd day of the month，796Exchange head Zhu Rong announced via Sina Weibo，After more than a month of application and rigorous review,，The exchange has obtainedHong Kong Customs and Excise Department颁发的经营金钱服务牌照，The license number is 13-08-01255。This marks that 796 Exchange has become the first Bitcoin trading platform in China to obtain such a license.。
Legal Basis for Money Services License in Hong Kong
According to the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, Chapter 615 of the Laws of Hong Kong，Any person operating remittance and/or currency exchange services (i.e. money services)，are required to apply for a license from the Commissioner of Customs and Excise。It is a crime to operate money services without a license，Once convicted，The maximum penalty is a fine of HK$100,000 and imprisonment for 6 months.。
Money services under the Ordinance include the following two categories:：
- currency exchange services：Currency exchange services carried on as business in Hong Kong。
- Remittance service：Conducted as a business in Hong Kong，Providing services for one or more of the following transactions - sending money or arranging for the sending of money outside Hong Kong；Receiving or arranging to receive money from a place outside Hong Kong；Arrange to receive money outside Hong Kong。
The actual role of licenses in 796 exchange business compliance
Bitcoin’s legal status has yet to be harmonized globally，The Hong Kong government has not officially recognized it as currency.。In this regulatory vacuum，796The money services license obtained by the exchange removes key uncertainties for it。In particular, the definition of “remittance services” is very broad.，This enables the platform to even face situations where the legal nature of Bitcoin is questionable.，Simple exchange services related to legal currency can still be carried out in accordance with regulations.，To operate stably within a compliance framework。
Virtual currency compliance and financial opportunities in Hong Kong
Established less than four months ago，796The exchange has achieved the leading trading volume in the country (including the contribution of leverage factors)，But there is still a long way to go before becoming a world-class Bitcoin futures and stock exchange.，International influence has not yet been fully established。As a company registered in Hong Kong，其持牌运营的突破为行业带来了更多合规化发展的可能。
Facing the competitive pressure brought by mainland free trade zones，Hong Kong can seek differentiated advantages in financial policy and digital strategy，It is expected to build itself into a new digital finance and virtual currency center，It can even serve as an auxiliary and alternative currency pool for the mainland under certain conditions.。In this context，796and other virtual asset business entities licensed in Hong Kong，Or have the opportunity to occupy a more favorable position in the global digital financial landscape。
About Hong Kong Xintong
GXT-HKComposed of professional teams from mainland China and Hong Kong，Focus on providing global company registration、Financial license application、Bank account opening、One-stop cross-border services such as tax financial planning and compliance consulting，core coverageHong Kong MSO License、Hong Kong Insurance Brokers and Hong Kong Money Lenders Licenses、US MSB license、Hong Kong 149 license、9license plate，Helping enterprises to go overseas efficiently and compliantly，Steady global layout。
