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Hong Kong's securities regulator has approved four new cryptocurrency exchanges—Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology—enhancing its status as a digital asset hub. This decision follows a surge in Bitcoin prices and reflects the city's commitment to a robust regulatory framework while balancing investor protection and business growth. The newly licensed platforms must meet strict operational conditions, joining three previously approved exchanges and signaling a trend toward regulatory maturity in the crypto space.
The Hong Kong Securities and Futures Commission (SFC) has licensed four new virtual asset trading platforms, bringing the total to seven. The approved firms underwent rigorous inspections focusing on client asset protection, KYC processes, and cybersecurity. Eleven more platforms are awaiting approval, with the SFC planning to issue licenses in batches through 2026 to enhance regulation and promote blockchain technology.
The Hong Kong Securities and Futures Commission has granted conditional licenses to four crypto exchanges: Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology. These platforms must complete third-party security assessments and address any identified issues before fully operating, bringing the total licensed exchanges in Hong Kong to seven. The SFC aims to protect investors while fostering growth in the crypto sector through rigorous compliance and regulatory standards.
Hong Kong's Securities and Futures Commission (SFC) has granted licenses to four new virtual asset trading platforms, increasing the total to seven that can serve retail customers. The licensed firms, which include Accumulus GBA Technology Ltd and DFX Labs Company Ltd, underwent rigorous inspections to ensure compliance with global security standards. The SFC aims to balance investor protection with the growth of the virtual asset ecosystem, with plans to consider 11 more platforms for licensing by year-end.
Crypto markets are surging, driven by optimism surrounding the new US administration's pro-crypto policies, with Bitcoin reaching an all-time high of over $93,000. Asia, particularly Hong Kong and Singapore, is poised to benefit from this momentum, with increased licensing and trading activity in digital assets. However, some experts remain skeptical, viewing crypto as a speculative trade rather than a stable investment.
Eric Yip
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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