Hong Kong approves 4 new crypto trading platform licenses in regulatory push
Hong Kong's Securities and Futures Commission (SFC) has licensed four virtual asset trading platforms (VATPs): Accumulus GBA Technology Ltd, DFX Labs Company Ltd, Hong Kong Digital Asset EX Limited, and Thousand Whales Technology (BVI) Ltd. This increases the total licensed crypto trading platforms serving retail customers to seven, including HashKey Group, OSL, and HKVAX. The licensed firms underwent rigorous inspections earlier this year and must conduct vulnerability assessments and penetration tests through independent third parties. Initial restrictions on the licenses will be lifted after a second-phase assessment. The SFC aims to protect investors while fostering growth in the virtual asset ecosystem. Additionally, 11 more VATPs are under consideration for licensing, with approvals expected in batches. This initiative underscores Hong Kong's commitment to becoming a global hub for virtual asset innovation while ensuring investor safeguards.
