Sources: Hong Kong VASP platforms that have not submitted applications after the expiration of the transition period may go overseas or operate underground

Sources revealed that applicants for the Hong Kong Virtual Asset Trading Platform (VASP) license include exchanges that previously held licenses No. 1 and 7. There are many companies on the market that operate over-the-counter (OTC) trading of virtual assets, such as virtual currencies. Hong Kong's Financial Services and the Treasury Bureau has previously launched a consultation on the inclusion of virtual assets OTC in supervision. This person predicts that after the transition period expires, if the original platform operating business in Hong Kong has not submitted an application, in addition to ending its business in Hong Kong, it may switch to overseas or even underground business. (Ming Pao)