Hong Kong accelerates virtual asset licensing with 15 applications under review

The Hong Kong Securities and Futures Commission (SFC) announced that it has licensed three trading platforms, with 15 applications pending. The SFC is implementing expedited licensing, advisory groups, regulatory measures and tokenization support to ensure robust investor protection and market development. Dr Yip Chee Hang, head of SFC's brokerage division, emphasized the rising importance of virtual assets and highlighted the SFC's initiatives to support crypto licensing, consultation, regulatory development, and tokenization.