BiyaPay Responds to "Hong Kong Unlicensed" Statement

BlockBeats News, September 25th, according to an official announcement from BiyaPay, in response to the recent "Hong Kong Unlicensed" statement issued by the Securities and Futures Commission of Hong Kong (SFC), BiyaPay has responded.

BiyaPay stated that the company currently does not have a stock trading license or cryptocurrency trading license in the Hong Kong region and strictly complies with relevant laws and regulations of the Hong Kong SFC. BiyaPay expressly stated that it does not provide stock and cryptocurrency trading services to residents of the Hong Kong region.

At the same time, BiyaPay is steadily advancing its global compliance process. The official disclosure states that the company has obtained a New Zealand FSP financial service license, established a team in the United States, and is actively applying for a US Broker license. In addition, BiyaPay is also investing in and holding stakes in local securities and crypto-related licenses in Hong Kong and simultaneously advancing regulatory applications in multiple locations, 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

Additionally, BiyaPay is establishing BVI and Cayman funds and accelerating the development of the BIYA Chain to promote on-chain trading of US stocks. The official statement mentions that through continuous improvement of licensing arrangements and asset management capabilities, BiyaPay is committed to building a more robust and transparent global compliance system.

BiyaPay emphasizes that in the next 2-3 years, compliance construction will be the company's top strategic direction. The platform always adheres to the concept of "user asset security first" and will continue to increase compliance investment, providing global users with a secure, transparent, and sustainable trading environment to further enhance customer trust. About BiyaPay BiyaPay is a multi-asset trading wallet platform covering areas such as international remittances, US-Hong Kong stock trading, cryptocurrency spot and contract trading, and asset management. BiyaPay is committed to providing users with secure, convenient, and compliant global financial services.