Kevin Lee leaves OSL to lead’s Hong Kong entity

Rick Steves

“Kevin’s expertise and leadership will be invaluable as we continue to advance our presence in the virtual asset space.”

Gate Group has appointed Kevin Lee as the Chief Executive Officer of Gate.HK, the crypto specialist’s Hong Kong virtual asset exchange which has recently set up its new entity and applied for a local VASP license.

Kevin Lee joins Gate.HK, the Hong Kong version of, from OSL, the insured and SFC-licensed digital asset platform. At OSL, Kevin Lee oversaw the regulatory requirements as a Type 1 & Type 7 licensed representative of the first ever SFC-licensed virtual asset trading platform.

“Our goal is to introduce a diverse range of trading services”

As Head of Sales Trading of OSL Digital Securities, he was head of trading of prime brokerage in cryptocurrency and digital assets, covering corresponding sales to clients in Asia, and managing the budget, exposure risk, and P&L of the business vertical. He also coordinated business development product roadmap globally across business verticals.

With over 17 years of experience in the Asia-Pacific region, Kevin Lee also held prominent positions with renowned financial institutions, including BNP Paribas, Macquarie Group, and JPMorgan Chase.

Gate Group stated his expertise in algorithmic trading, financial products, and his experience in fostering innovation align perfectly with Gate Group’s vision for Gate.HK.

Lin Han, Founder and CEO of Gate Group, said: “We are excited to have Kevin Lee join Gate Group as the Chief Executive Officer of Gate.HK. Kevin’s expertise and leadership will be invaluable as we continue to advance our presence in the virtual asset space, ensuring the delivery of cutting-edge services to our growing user base.”

Kevin Lee, CEO of Gate.UK, commented: “I am honored to join Gate.HK and be part of their vision. In the future, our goal is to introduce a diverse range of trading services, tailoring each new product and service to meet the needs of users and the regulatory requirements in Hong Kong. ”

Gate.HK looking to secure Type 1 and Type 7 licenses from Hong Kong’s SFC

It was last week that Gate Group launched Gate.HK as a Hong Kong-based virtual asset trading platform offering virtual asset deposits and withdrawals, as well as spot trading on various virtual assets such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

The launch of Gate.HK follows the firm’s preparation for its application for licensing with the Securities and Futures Commission (SFC) in Hong Kong.

Gate.HK aims to introduce a wider array of trading services catering to all users including retail users and professional investors. In the future, the new platform will roll out various other services to provide a more extensive range of trading choices, tailoring each new product and service to meet the needs of users and the regulatory requirements in Hong Kong.

In April, the firm announced Gate.UK applied with the Securities and Futures Commission (SFC) under the anti-money laundering laws to trade non-security tokens.

Additionally, Gate.HK wants to apply for Licenses under the Securities and Futures Ordinance for Type 1 (Securities Dealing) and Type 7 (Automated Trading Services Provision) regulated activities to facilitate security token trading.

The authorizations would allow to establish relationships with traditional financial institutions like banks, which enables its customers to convert their cryptocurrency to fiat money or vice versa on the platform. cited the nation’s crypto-friendly policies as Hong Kong’s government is pushing to attract digital asset businesses, which would increase retail investors’ access to top cryptocurrencies and crypto exchange-traded funds.

Under the current framework, virtual assets are classified as “securities” or “commodities” depending on their specific characteristics and are subject to the same regulatory requirements as traditional securities and commodities. This means that cryptocurrency exchanges that operate in Hong Kong are required to comply with a range of regulations relating to customer due diligence, anti-money laundering (AML), and other consumer protection measures.

Read this next

Industry News

SEC charges $15 million Ponzi scheme targeting Mexican-American community

Armando Gutierrez Rosas purportedly intended to invest these funds in U.S. real estate and mining operations in Mexico, assuring investors of monthly returns as high as 10 percent. Instead, Gutierrez operated a Ponzi scheme, diverting investor funds to cover his personal expenses, which notably included the acquisition of a $2.5 million mansion in Texas.

Digital Assets

Chainlink launches cross-chain interoperability protocol on Arbitrum One

Chainlink and Arbitrum join forces to bring the Chainlink Cross-Chain Interoperability Protocol (CCIP) to Arbitrum One, offering Web3 developers a powerful tool to build secure and interconnected applications across blockchains.

Executive Moves

STT appoints Brian Saldeen as Senior Risk & Margin Product Manager

Sterling Trading Tech welcomes Brian Saldeen to spearhead the development of their Risk & Margin offering, bolstering their cutting-edge solutions in the capital markets.

Industry News

Altruist eliminates brokerage account fees for advisors who choose their custody

Altruist, the modern custodian for independent RIAs, takes a bold step by eliminating portfolio accounting software expenses for all Altruist brokerage accounts, potentially saving advisors tens of thousands annually.

Retail FX

Exploring India’s Forex Market Timings With Insights From Experts

Traders Union experts identify the most profitable Forex trading windows for Indians as between 6.00-12.00 GMT and 18.00-0.00 GMT, emphasizing the importance of timing and market conditions in a rapidly evolving Indian financial landscape.

Retail FX UK doubles revenues, profit in 2022

The UK business of multi-licensed online brokerage group has reported its financials for its new fiscal year ending December 31, 2022. The group managed to best most of last year’s performance metrics, having grown its net income, and FY 2022 turned into the best revenue since it was founded.

Digital Assets

Alchemy goes legit in US with Money Transmitter License

Cryptocurrency payment gateway Alchemy Pay has marked a pivotal moment in its global expansion strategy by securing a crucial payment license in the United States. The company has obtained a Money Transmitter License in the state of Arkansas, joining the ranks of crypto giants like Coinbase and Jack Dorsey’s Block.

Digital Assets

eToro crypto business gets CySEC license

eToro has received approval from CySEC to operate as a crypto asset services provider, providing a regulatory stamp for the company’s digital assets and cryptocurrencies business in Cyprus and Europe.

Metaverse Gaming NFT

Industry Leaders DER Touristik Online, Lufthansa Group, and Chain4Travel Host First Web3 & Travel Hackathon

DER Touristik Online, Lufthansa Group, and Chain4Travel join forces to organize the travel industry’s first-ever hackathon centered on web3 technologies, delivering innovative prototypes in less than four days.