According to ChainCatcher, the Hong Kong Securities and Futures Commission (SFC) recently announced that it will conduct on-site office inspections on cryptocurrency platforms seeking to obtain licenses. The 18 applicants who are deemed to have obtained licenses will have to undergo inspections to obtain approval for their applications. The on-site inspections will be conducted in the coming months, focusing on the cryptocurrency platform's protection of customer assets and the Know Your Customer (KYC) process to determine whether the company meets the SFC's regulatory requirements. In addition, the regulator also reminded applicants that they must comply with all regulatory requirements and licensing conditions of the SFC, including prohibiting mainland Chinese residents from accessing the platform's virtual asset-related services, marketing its services, or attracting retail users.