Hong Kong to speed up crypto platform licensing and propose custody licenses

Hong Kong is accelerating the licensing process for crypto trading platforms, with regulators planning to establish a consultative panel for licensed platforms by early 2024, according to The Block. Joseph Chan, Acting Secretary for Financial Services and the Treasury (FSTB), said the Securities and Futures Commission (SFC) aims to streamline the licensing process. Additionally, the government plans to regulate stablecoins and introduce licensing for crypto custodians next year.