#BlocklikeNews Hong Kong’s licensing system for virtual asset trading platform operators is a “dual license” system. In addition to the licensing system for "security tokens" applicable to the Securities and Futures Ordinance, there is also another licensing system for "non-security tokens" applicable to the "Anti-Money Laundering" that will officially take effect on June 1, 2023. Licensing system under the Ordinance.

Currently, several virtual asset trading platforms, including OSL Exchange and HashKey Exchange, are applying for the second type of license, but no license has been approved yet. The Hong Kong Securities and Futures Commission has previously stated that the terms and characteristics of virtual assets may evolve over time, and the definition standards of "security tokens" and "non-security tokens" may also change. Therefore, in order to ensure compliance, virtual asset platforms should hold Dual license plates.