没有允许挂离岸所，只能用持牌照主体去同样持牌照的合规交易所做Market Making 。
举个例子
Hashkey 新加坡有新加坡的MPI+DPT牌照，可以去Coinbase 做Market Making ，然后把流动性导入到Hashkey 香港。
这个方案相当复杂，绝大部分香港的VATP交易所都做不到。
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There's no permission to list on offshore exchanges; you can only use a licensed entity to conduct Market Making on a compliant exchange that also holds a license.

For example, Hashkey Singapore has a Singaporean MPI+DPT license, allowing it to conduct Market Making on Coinbase and then channel liquidity to Hashkey Hong Kong.

This process is quite complex, and most VATP exchanges in Hong Kong cannot do it.

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Author: Yuanshan Insights
Data Source: Farside Investors, SoSoValue, Fed H.4.1 Report, CryptoQuant

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What does this figure mean?

In November and December, the combined net outflow of spot BTC ETFs was approximately $4.57 billion; with a net outflow of approximately $1.09 billion in December alone.

Many people frantically sold at a loss above 93K, and institutions bought back about one-tenth of that amount on January 2nd alone.

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Author: Bitcoin Orange Trader
The Japanese-language native Meme coin, priced at $114,514, has seen a nearly 50-fold increase in the past 48 hours.

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...