6M
...
Hong Kong’s Securities and Futures Commission (SFC) anticipates licensing additional digital-asset exchanges by the end of 2024, signaling a strong commitment to establishing the city as a global hub for digital assets. This development follows a thorough five-month inspection of provisional platforms, according to SFC executive director Eric Yip during the annual Fintech Week.
The city, which pledged in 2022 to enhance its stature as a financial center, expects to publish a finalized list of exchanges transitioning from provisional to full licenses by year-end. “Applicants have embraced our feedback, demonstrating readiness to invest in robust regulatory practices for sustainable business growth,” Yip noted.
Further regulatory enhancements include the formation of a consultative panel by early 2025 to ensure ongoing cooperation between the licensed exchanges and the SFC. This initiative complements plans to refine regulations for crypto-focused trading desks and custodians, enhancing Hong Kong’s appeal as a secure and dynamic financial hub.
