UAE Central Bank Issues Guidelines to Penalize Unlicensed Local Virtual Asset Service Providers

Swiss crypto bank SEBA Bank has been granted a license by the Hong Kong Securities and Futures Commission, allowing its subsidiary to operate crypto-related services locally.

In a statement today, SEBA announced that the license permits SEBA Hong Kong to trade and distribute all securities, including virtual asset-related products, such as over-the-counter derivatives and structured products based on virtual assets.

The bank is also authorized to provide advice on securities and virtual assets and manage assets in fully delegated accounts for traditional securities and virtual assets.

SEBA Bank opened a new office in Hong Kong in November of last year. Currently, the bank conducts global operations in Switzerland, Abu Dhabi, and Hong Kong.