China Merchants Bank International, a subsidiary of China Merchants Bank, has become the first brokerage linked to mainland China to obtain a virtual asset license from the Securities and Futures Commission in Hong Kong.😎
This approval enables CMBI to legally offer cryptocurrency trading, custody support, and advisory services in digital assets within Hong Kong's tightly regulated framework. Authorities have reaffirmed their commitment to becoming a global cryptocurrency hub, with a licensing system for stablecoin issuance set to begin on August 1. Industry figures have highlighted that this move reflects Hong Kong's balance between regulatory innovation and the restrictions imposed on cryptocurrencies in China. Officials have also confirmed plans to expand the use of converted assets in traditional finance.