**Hong Kong to Issue More Crypto Exchange Licenses by Year-End**

Hong Kong's financial regulator, the Securities Futures Commission (SFC), is set to ramp up its licensing for crypto exchanges and digital asset firms. SFC CEO Julia Leung announced plans to issue licenses to 11 Virtual Asset Trading Platforms (VATPs) currently operating in the region by year-end.

- Licenses will be granted in batches to streamline compliance.

- 16 companies are awaiting decisions on their VATP applications.

- Non-compliant firms will lose their licensing qualifications.

The SFC's roadmap for 2024-2026 aims to advance crypto regulations, promote Real World Asset tokenization, and explore blockchain technologies. Despite criticism for slow regulatory progress, the framework is expected to be finalized by the end of next year.

This update follows the recent approval of HKVAX as the third licensed crypto exchange in Hong Kong, after OSL and HashKey. The push for stricter regulations comes after the $165 million JPEX scandal, prompting Hong Kong to enhance its crypto oversight and policing.