Hong Kong Securities Regulator May Approve More Virtual Asset Licenses

According to PANews, the Hong Kong Securities and Futures Commission (SFC) is expected to approve additional virtual asset trading platform licenses this month. Since implementing the Virtual Asset Trading Platform (VATP) licensing system in June 2023, the SFC has issued nine licenses, with nine more pending approval. Chief Executive Officer Leung Fung-yee indicated that another platform is likely to receive a license within the month. Leung highlighted that the proposed roadmap for virtual asset development in Hong Kong extends beyond licensed platforms to include custodial services and over-the-counter (OTC) trading. The SFC plans to gather input from various stakeholders on these developments. Leung also noted that there is room for improvement in the liquidity of current virtual asset trading platforms and mentioned the possibility of introducing more products and services to enhance market competitiveness.