On December 18, the Hong Kong Securities and Futures Commission today granted licenses to four applicants for virtual asset trading platforms under the fast-track licensing procedure.
The four applicants for virtual asset trading platform licenses are Cloud Account Greater Bay Area Technology (Hong Kong) Limited, DFX Labs Company Limited, Hong Kong Digital Asset Trading Group Limited, and Thousand Whales Technology (BVI) Limited. The Securities and Futures Commission is processing the remaining applications with the same fast-track licensing procedure.
Dr. Yip Chi-hang, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, stated: “We have always proactively communicated with the senior management and ultimate controllers of virtual asset trading platforms. This helps us clarify the regulatory standards they should meet and expedite the licensing process for virtual asset trading platforms. We are committed to balancing the protection of investors' interests with the sustainable development of Hong Kong's virtual asset ecosystem.”
Given the effectiveness of direct communication with the senior management and ultimate controllers of virtual asset trading platforms, the Hong Kong Securities and Futures Commission will continue this practice when appointing external evaluators for the second phase assessment of virtual asset trading platforms.
Specifically, the Securities and Futures Commission will supervise the entire second phase assessment process by signing a tripartite agreement with the virtual asset trading platforms and their external evaluators, and will lift the scope of business restrictions after confirming that the second phase assessment has been completed.
