Summary
- Hong Kong’s Securities and Futures Commission said it has issued a virtual asset license to Victory Fintech.
- It said this is the first approval since June 17, 2024, bringing the total to 12 platforms with formal authorization.
- It said Hong Kong is pushing to strengthen market transparency and investor protection through a licensing regime for virtual asset operators within the regulated system.
Hong Kong’s Securities and Futures Commission (SFC) has granted a virtual asset (crypto) license to Victory Fintech (VDX). It marks the first new approval in about eight months since June last year.
According to crypto-focused media outlet CoinDesk on the 16th (local time), this is the first approval since June 17, 2024. Hong Kong previously introduced a regulatory regime for virtual asset firms in 2023.
Since then, regulators have issued licenses to OSL, HashKey and HKVAX, among others. Including this approval, a total of 12 platforms have so far received formal authorization in Hong Kong.
Hong Kong is seeking to enhance market transparency and strengthen investor protection through a licensing framework for regulated virtual asset operators.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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