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BiyaPay responded to the "unlicensed" statement in the Hong Kong area: strictly complies with the laws and regulations of the Hong Kong Securities and Futures Commission and does not provide related trading services to residents of Hong Kong.
According to Deep Tide TechFlow news on September 25, in response to the recent statement from the Hong Kong Securities and Futures Commission (SFC) regarding “unlicensed activities in the Hong Kong area”, BiyaPay has issued a response.
BiyaPay indicates that the company has not yet obtained stock trading and cryptocurrency trading licenses in the Hong Kong region, and strictly adheres to the relevant laws and regulations of the Hong Kong Securities and Futures Commission, clearly stating that BiyaPay does not provide stock and cryptocurrency trading services to residents of Hong Kong.
At the same time, BiyaPay is steadily advancing its global compliance process. The official disclosure states that the company has obtained the Financial Service Provider (FSP) license in New Zealand and has formed a team in the United States to actively apply for a Broker license. In addition, BiyaPay is also investing in and holding shares of local securities and cryptocurrency-related licenses in Hong Kong, while simultaneously advancing regulatory applications in multiple locations, including:
EU MiCA and VASP license
New Zealand FMA license
Cayman SIBL Securities Investment Business License and Banking License
U.S. MTL (Money Transmitter License) license
U.S. RIA (Registered Investment Adviser) license
At the same time, BiyaPay is in the process of establishing BVI and Cayman funds and accelerating the development of BIYA Chain to promote on-chain trading of US stocks. The official statement claims that by continuously improving its licensing layout and asset management capabilities, BiyaPay is committed to building a more robust and transparent global compliance system.
BiyaPay emphasizes that compliance construction will be the company's primary strategic direction in the next 2-3 years. The platform always adheres to the concept of “user asset security first” and will continue to increase compliance investment to create a safe, transparent, and sustainable trading environment for global users, further enhancing customer trust.