According to TechFlow, on December 18, according to an official announcement, the Hong Kong Securities and Futures Commission announced that it would issue licenses to four virtual asset trading platforms according to the fast-track licensing procedure, including Cloud Account Greater Bay Area Technology (Hong Kong), DFX Labs, Hong Kong Digital Asset Trading Group and Thousand Whales Technology. These platforms must complete rectification and pass independent third-party vulnerability assessments and penetration tests before they can operate within restrictions. The Securities and Futures Commission will supervise the second phase of the assessment through a tripartite agreement and lift business restrictions after the assessment is completed. The Securities and Futures Commission plans to issue more licensing procedure guidelines in early 2025 to promote the development of Hong Kong's virtual asset ecosystem.