The Hong Kong Securities and Futures Commission (SFC) plans to approve a new batch of licenses for crypto platforms by the end of this year. Currently, 11 platforms are being considered for such licenses.
China's Securities Regulatory Commission Head, Liang Fengyi, stated in an interview with the news outlet Hong Kong 01 that licenses would be issued in batches for virtual asset trading platforms (VATP). Recently, the SFC has already issued licenses to three crypto exchanges, including the Hong Kong Virtual Asset Exchange, OSL Exchange, and HashKey Exchange.
In addition to the already licensed platforms, 11 more platforms have applied for licenses and are awaiting approval. Liang Fengyi noted that regulators have conducted the first stage of on-site inspections and required applicants to make necessary adjustments.
Liang emphasized that by the end of the year, regulators plan to significantly advance the regulation of virtual assets by issuing new licenses for VATPs. "Applicants that do not meet the requirements will lose the opportunity to obtain a license, while companies that meet the requirements will receive a license under conditions," she added.
