According to Odaily, the 12-month transitional period for virtual asset trading platforms has come to an end, with 11 platforms tentatively considered as licensed. The Chief Executive of the Hong Kong Securities and Futures Commission, Leung Fung Yee, stated that further research will be conducted on all applications to ensure they meet regulatory requirements.
All institutions considered as 'licensed' will receive individual notifications and undergo on-site inspections. They will be required to correct any areas that do not comply with regulations, or the applicants will have to withdraw. The expectation is that these institutions are well-prepared. If they meet the qualifications, it is anticipated that they will gradually receive their licenses before the end of the year.