📰 COFCO Capital Clarifies Virtual Asset Trading License Status
🇭🇰 JUST IN: COFCO Capital’s Hong Kong-based subsidiary has confirmed it does not hold a Virtual Asset Trading License (VATL) and is not currently engaging in virtual asset trading .
🔍 Key Facts
COFCO Capital Holdings (stock code 002423) has publicly denied any VATL application or intention to trade virtual assets.
The firm emphasized that if it decides to enter the crypto sector in the future, it will fully comply with regulatory requirements and disclose all relevant information .
Its Hong Kong arm, COFCO Asset Management (International) Limited, holds only traditional SFC licenses (Types 1, 4 & 9), not virtual asset licenses .
COFCO is a key subsidiary of China’s state-owned food giant COFCO Group, with a focus on conventional finance, agri-fintech, and blockchain innovation—not crypto trading .
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✅ Why It Matters
In Hong Kong, virtual asset trading is strictly regulated, and possessing a VATL is crucial for legitimacy .
COFCO’s statement highlights the boundary between experimenting with blockchain and engaging in crypto speculation—an approach we may see more among Chinese SOEs.
This could signal caution ahead of broader policy shifts in HK’s crypto licensing regime .
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🗳️ Poll: Should Chinese SOEs Enter Crypto Trading?
“Given HK’s evolving digital asset rules, should Chinese SOEs like COFCO expand into crypto trading?”
✅ Yes – It’s the future!
🟡 Maybe – Only for blockchain & stablecoins.
❌ No – Still too risky & regulated.
🤔 Undecided – Watching policy.”
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🗣️ What do YOU think? Will we start seeing more Chinese state firms dip into crypto, or will regulatory caution hold them back? Drop your vote and comment! 👇
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