The post Hong Kong To License More Crypto Exchanges! appeared first on Coinpedia Fintech News
Hong Kong’s Securities and Futures Commission (SFC) is speeding up crypto platform licensing—and it’s making waves. At the 2024 Fintech Week, Dr. Eric Yip, a top SFC official, talked about plans to tighten and fast-track licensing for virtual asset trading platforms (VATPs). This new push isn’t just about more rules; it’s about building trust and security for investors in a market that’s moving fast.
Why SFC Pushing For Regulations
As of now, fourteen platforms—including big names like Crypto.com and Matrixport—have temporary “deemed-to-be-licensed” status. Only three have full licenses, though. But the SFC plans to get the first full batch out by the end of 2024. Part of this fast-track process involves on-the-ground inspections and direct talks with VATP leaders. This hands-on strategy isn’t just for show—it’s meant to keep things transparent and compli
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