Hong Kong’s Securities and Futures Fee (SFC) has kicked off 2025 by approving two extra crypto buying and selling platforms, persevering with its efforts to manage and develop the digital asset sector.
Since mid-2024, the regulator has granted a complete of seven licenses as a part of its structured method to overseeing crypto exchanges.
On January 27, PantherTrade and YAX, two Hong Kong-based exchanges, acquired their official licenses, permitting them to function underneath the Anti-Cash Laundering and Counter-Terrorist Financing Ordinance (AMLO). This brings the variety of formally registered crypto platforms in Hong Kong to 10 since 2020.
The SFC had beforehand outlined plans to license 11 crypto companies by the top of 2024. In December 2024, the regulator accepted 4 new platforms: HKbitEX, Accumulus, DFX Labs, and EX.IO, following complete on-site compliance opinions targeted on investor safety, cybersecurity, and Know Your Buyer (KYC) procedures.
In keeping with SFC Govt Director Eric Yip, the company is working carefully with crypto change management to make sure adherence to excessive regulatory requirements whereas fostering a wholesome digital asset ecosystem. The purpose is to strike a steadiness between investor safety and innovation.
