Hong Kong’s Securities and Futures Commission (SFC) aims to fully license more digital-asset exchanges by the end of 2024 after a five-month review period, announced at Fintech Week.
Following initial inspections, only three platforms are fully licensed, with 11 others holding provisional licenses. The exchanges must implement SFC feedback and pass a third-party review to gain restricted licenses. By early 2025, the SFC plans a consultative panel with licensed exchanges and is working on regulatory frameworks for OTC trading and custodians.
Hong Kong Exchanges and Clearing Ltd. also plans a new Virtual Asset Index Series to benchmark Bitcoin and Ether prices in Asia-Pacific.
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