The Securities and Futures Commission (SFC) of Hong Kong plans to release more licenses for cryptocurrency exchanges by the end of 2024.
This will be the third license granted under the new rules for crypto trading platforms, demonstrating the SFC’s efforts to develop the virtual asset industry in the region.
Chief Executive of the SFC, Julia Leung, revealed in an interview with HK01 that HKVAX has been approved to operate a crypto exchange.
Previously, licenses were granted to OSL and HashKey, highlighting the SFC’s active role in promoting a robust crypto market.
Leung also mentioned that the SFC has a list of 11 platforms that are under review and have been requested to make necessary changes to comply with regulations.
Leung stated that significant progress is expected by the end of the year, with batches of new licenses to be issued in stages.
