The Hong Kong Securities and Futures Commission (SFC) announced the addition of Victory Fintech Company Limited to its list of officially licensed virtual asset trading platforms. The official website now shows a total of 12 licensed crypto and blockchain-related institutions. This marks the first new addition of crypto trading platform licenses since the approval of Hong Kong BGE in June 2025. Since June 2024, Hong Kong authorities have criminalized the operation of unlicensed virtual asset trading platforms, leading several exchanges to withdraw from the Hong Kong market, including OKX and Bybit, which withdrew their license applications. Furthermore, Christopher Hui, Secretary for Financial Services and the Treasury, previously stated that the regulator plans to submit a draft legislation on crypto asset advisory service providers in 2026. While 12 companies have already been licensed by the SFC, the Hong Kong Monetary Authority (HKMA) has not yet listed any licensed stablecoin issuers. Notably, the SFC recently issued guidelines allowing licensed brokers to provide virtual asset margin financing services, initially accepting only Bitcoin (BTC) and Ethereum (ETH) as collateral. The regulator also announced a framework allowing trading platforms to offer perpetual contract trading to professional investors.