11 Crypto Platforms Await Approval as Hong Kong Nears Completion of Regulatory Framework

Hong Kong’s Securities and Futures Commission (SFC) is on track to complete its regulatory framework for digital assets by next year, according to CEO Liang Fengyi.

She announced that 11 additional crypto platforms are applying for licenses, following the successful first round of assessments. The SFC aims to enhance market resilience and global competitiveness while promoting financial innovation through tokenization and web3 technologies. Currently, three platforms have received licenses, with a robust licensing system for cryptocurrency OTC services also in development.

Clever Robot News Desk 9^th October 2024