Bullish Becomes the 10th Crypto Exchange to Receive Hong Kong’s SFC Licence

Bullish Secures Hong Kong Trading License as Crypto Landscape Evolves

Bullish, a crypto trading platform, has officially secured a licence to operate within Hong Kong, further establishing the region as a growing hub for digital asset exchanges.

This licence approval by the Hong Kong Securities and Futures Commission (SFC) brings the total number of licensed crypto platforms in the territory to ten.

Bullish Plans Focus on Institutional Business in Hong Kong

Michael Lau, Senior Vice President and Head of Global Sales at Bullish, highlighted the importance of Hong Kong as a business centre, emphasising that the firm has over 100 staff in the region.

Following the approval, Bullish aims to pivot towards serving institutional clients in Hong Kong, focusing on enhancing its offerings for more sophisticated investors.

Consensus Hong Kong Draws Global Attention

Adding to Hong Kong's growing influence in the crypto world, the city is hosting the highly anticipated Consensus event.

This marks the first time the conference, a major gathering for the digital asset sector, is being held outside the United States.

The event, taking place at the Hong Kong Convention and Exhibition Centre, kicked off on 18 February and will run through 20 February, drawing an estimated 8,000 participants.

Michael Lau, who is also serving as Chairman of Consensus Hong Kong, explained the strategic decision to bring the event to Hong Kong:

"Choosing Hong Kong was a pretty strategic decision because we know that one of the big themes within the whole space is… this technology has enabled [that] traditional finance."

Hong Kong Strengthens its Regulatory Framework for Digital Assets

Hong Kong continues to demonstrate its commitment to becoming a leading player in the digital asset market.

The Hong Kong Monetary Authority (HKMA) is actively working on creating regulations for stablecoins, with many experts believing these assets have significant potential in traditional finance.

In addition to approving licenses for exchanges like Bullish, Hong Kong’s Securities and Futures Commission (SFC) currently has eight other platforms under review.

Mr. Yip Chi Hang, Executive Director of the SFC’s intermediaries division, reaffirmed that the licensing process is becoming clearer, with licences being granted only to applicants meeting high standards.

Bullish Expands its Reach, Focused on Compliance and Regulation

As part of its global expansion strategy, Bullish is also focusing on regulatory compliance.

The platform recently secured licenses from the German Federal Financial Supervisory Authority (BaFIN), strengthening its European presence.

Tom Farley, CEO of Bullish, stressed the importance of clear regulations for building trust within the industry.

He said,

“This milestone is a testament to Bullish’s dedication to expanding our global footprint and continuation of our commitment to being the most trusted digital asset exchange.”

Hong Kong's Push to Become a Global Crypto Hub

Hong Kong has been positioning itself as a key player in the digital asset world since 2022, following China’s ban on cryptocurrency transactions.

Over the past few years, Hong Kong has introduced various initiatives to attract digital asset businesses, including the launch of Asia’s first spot crypto exchange-traded funds.

The Cyberport Web3 network, which now boasts over 270 blockchain firms, is another example of Hong Kong’s growing influence in the space.

In addition, Hong Kong has proposed tax exemptions for hedge funds, private equity firms, and family investment vehicles that deal in crypto assets, further solidifying the city’s appeal to investors in the digital asset sector.