Cryptocurrency traders in Hong Kong now have a choice of seven platforms for buying and selling four cryptocurrencies.
The Hong Kong Securities and Futures Commission (SFC) has more than doubled the ranks of approved virtual asset trading platforms (VATPs) with the addition of four firms.
Accumulus GBA Technology (Hongkong), DFX Labs, Hong Kong Digital Asset EX and Thousand Whales Technology (BVI) received licenses on Dec. 18. They joined HashKey, OSL and HKVAX. According to an SFC announcement, the new exchanges were approved under the agency’s swift licensing procedure for deemed-to-be-licensed VATP applicants.
The newly approved exchanges underwent on-site inspections and responded to feedback from the SFC. The inspections concentrated on safeguarding client assets, Know Your Customer processes and cybersecurity. SFC executive director of intermediaries Eric Yip said:
