According to PANews, the Hong Kong Securities and Futures Commission (SFC) has reminded industry professionals and investors that the deadline for submitting virtual asset trading platform license applications to continue operating in Hong Kong was February 29, 2024. Under the transitional arrangements, virtual asset trading platforms that did not submit license applications before the deadline must cease their business activities in Hong Kong by May 31, 2024. The SFC emphasized that these platforms must obtain the appropriate licenses to resume their business activities or promote their virtual asset services to Hong Kong investors, and any unlicensed activities will constitute a criminal offense.
Investors are advised to use the list of virtual asset trading platforms provided on the SFC website to verify the regulatory status of the platforms and avoid trading on unlicensed platforms to protect their investment safety. Earlier today, it was reported that the number of institutions applying for virtual asset trading platform licenses in Hong Kong has increased to 24 as the SFC's application deadline has passed.