The Hong Kong Securities and Futurities Commission has issued virtual asset licenses to local crypto exchanges Panthertrade and Yax.

Hong Kong The financial authorities have updated it existing Of the virtual asset trading platforms that have received an operating license from sfc. Two Hong Kong-based crypto trading platforms, Hong Kong Limited and YAX Hong Kong Limited, have just received business Licenses It's January. 27.

“The publication of this list by the SFC does not constitute a guarantee of the performance or credibility of any virtual asset trading platform licensed by the SFC,” the financial regulatory agency said in a translated statement.

To date, there are a total of nine virtual asset trading platforms that have received licenses to operate in Hong Kong from the SFC. These consist of OSLand HashkiHong Kong Virtual Asset Exchange, Hong Kong Digital Asset Ex, Accumulus GBA Technology, DFX Labs, and Anhip Whales Technology or BVI.

On the other hand, there are still six applicants awaiting review and possible approval of the SFC license. Some of the crypto trading platforms that have applied for a license include Hong Kong BGE, Whale Markets, Flying Hippo Technologies, Highblock and others.

Although Panthertrade has an office in Hong Kong, it is actually part of a Chinese internet company called Cheetah. While Yax Hong Kong is a subsidiary under Tiger Brokers Hong Kong Global Limited, an internet broker company.

Ditto I mentioned By Crypto.news, Executive Director of the Intermediary Ministry of the Hong Kong Securities and Futures Commission, Ye Zhiheng hinted that the Commission will issue a new license for virtual assets in the first quarter of 2025.

He did not reveal an exact date, but said the "good news" would be delivered in a month or two.

Hong Kong regulators have put out updates on how virtual licenses are being issued, with the aim of issuing a new set of licenses to expand on the region's emerging crypto hub.

Unfortunately, regulatory hurdles in Hong Kong prevented them from progressing at a faster rate; lags behind Singapore which has Issued Twice the number of crypto licenses last year compared to 2023.

In October, the Hong Kong SFC was aiming to approve a new set of crypto licenses by the end of 2024. However, this target has been delayed to early 2025.