Hong Kong Approves Four New Crypto Exchanges, ‘Positioning Itself As A Key Hub,’ Expert Says
Hong Kong’s securities regulator has approved four new cryptocurrency exchanges, marking a significant step in the city’s efforts to position itself as a digital asset hub.
What Happened:The approvals come at a time when Bitcoin (CRYPTO: BTC) prices have surged, recently surpassing the $100,000 milestone.
The newly licensed platforms—Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX and Thousand Whales Technology—were added to the Securities and Futures Commission’s (SFC) updated list of approved virtual asset trading platforms (VATPs) on Thursday.
The move reflects Hong Kong’s ongoing commitment to strengthening its virtual asset regulatory framework while balancing investor protection and business development.
Eric Yip, SFC’s executive director of intermediaries said, “We have been proactively engaging with VATPs’ senior management and ultimate controllers, which helps drive home our expected regulatory standards and expedite our licensing process for VATPs,” Yip said. “We aim to strike a balance between safeguarding the interests of investors and facilitating continuous development for the virtual asset ecosystem in Hong …
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