The CEO of the Hong Kong Securities and Futures Commission (SFC) has announced that the agency plans to issue more operating licenses for cryptocurrency exchanges by the end of this year.
The CEO of the Hong Kong Securities and Futures Commission (SFC) has announced that the agency plans to issue more operating licenses for cryptocurrency exchanges by the end of this year. Eleven platforms have completed in-person review processes, and further progress is expected. This announcement follows the approval of a local exchange, HKVAX. However, there has been criticism regarding the strict regulations and their impact on Hong Kong’s ambition to become a cryptocurrency hub. Some international firms, including OKX and Bybit, have withdrawn their license applications. The SFC is also seeking industry feedback on licensing for OTC services and digital asset custody.
Source: coindesk.com
