CMB International Securities Limited, a subsidiary of China Merchants Bank, has launched a cryptocurrency exchange in Hong Kong, enabling virtual asset trading services. This launch follows the bank's acquisition of a virtual asset service provider license from the Hong Kong Securities and Futures Commission in mid-July. The exchange facilitates 24/7 trading of Bitcoin, Ether, and Tether's USDt, although it is restricted to professional investors only. China Merchants Bank is one of the largest banks in China with over $1.7 trillion in managed assets. Despite its operations in Hong Kong, traditional crypto trading remains illegal in mainland China. CMB signifies its status as the first Chinese bank-affiliated broker to obtain licenses for virtual asset trading services in Hong Kong, emphasizing plans to blend traditional stock trading with digital assets. As Hong Kong solidifies its position as a crypto hub, local regulatory frameworks are evolving, potentially impacting industry dynamics with new requirements for stablecoin issuers and trading regulations.

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