Hong Kong Grants Licenses to Four More Crypto Exchanges

Hong Kong has granted licenses to four additional cryptocurrency exchanges, reinforcing its goal to become a leading global crypto hub.

This move is part of the region’s broader effort to streamline its licensing system and promote a favorable environment for digital asset trading.

On Wednesday, the Securities and Futures Commission (SFC) announced that it had approved HKbitEX, Accumulus, DFX Labs, and EX.IO under an expedited process.

These platforms have successfully addressed regulatory feedback following on-site audits. Prior to this, the SFC had already licensed three other exchanges: OSL, HashKey, and HKVAX.

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This latest round of approvals reflects Hong Kong’s ongoing push to foster a crypto-friendly landscape. Since June 2023, the city has introduced a licensing framework that allows virtual asset trading platforms (VATPs) to offer services to retail investors.

Eric Yip, the SFC’s Enforcement Director of Intermediaries, emphasized the regulator’s proactive stance, working closely with the leadership of VATPs to ensure they meet all required standards and speed up the approval process.

Alexander Zdravkov