Hong Kong's Securities and Futures Commission (SFC) has granted licenses to four more cryptocurrency exchanges, bringing the total number of licensed exchanges in the city to nine. The four newly licensed exchanges are: AAX Coinhako FTX Luno The SFC has been taking a cautious approach to regulating cryptocurrency exchanges, and has only granted licenses to exchanges that meet its strict requirements. The commission is also working to develop a new regulatory framework for cryptocurrency exchanges, which is expected to be released later this year. The granting of these four new licenses is a sign that the SFC is becoming more comfortable with the cryptocurrency industry, and is willing to allow more exchanges to operate in Hong Kong. This is good news for the development of the cryptocurrency industry in the city, and is likely to attract more businesses to set up shop in Hong Kong.