Hong Kong To Issue More Crypto Exchange Licenses By Year-end
Hong Kong’s Securities Futures Commission (SFC) plans to issue more licenses to crypto exchanges and digital asset firms operating in the region by the end of 2024.
SFC CEO Julia Leung stated that the regulator expects to make progress in granting licenses to 11 Virtual Asset Trading Platforms (VATPs) currently on its list of potential licensees.
Leung mentioned that licenses would be issued in batches to improve compliance among crypto exchanges. Currently, a total of 16 companies are awaiting decisions on their VATP applications, with 11 already operating as “deemed to be licensed,” despite the SFC advising caution against trading with them.
The SFC has completed its first round of on-site reviews of these crypto firms….
