Hong Kong plans to issue licenses to 11 virtual asset companies by year-end

Julia Leung, Chief Executive Officer of Hong Kong's Securities and Futures Commission (SFC), announced in an interview with local media HK01 that 11 platforms are currently undergoing the virtual service asset provider (VASP) licensing review. She noted that the first phase of on-site inspections has been completed and that the applicants have been instructed to implement necessary adjustments. According to Leung, the agency aims to achieve notable progress by year-end, including the rollout of phased licensing.