Hong Kong regulator approves first crypto company license since June

Hong Kong's Securities and Futures Commission (SFC) granted Victory Fintech a license.

Hong Kong introduced its current regime for the regulation of companies providing crypto services in 2023, with Hashkey Exchange and OSL Digital Securities the first two parties to receive approval.

There are now 12 approved platforms on the registry, including New York Stock Exchange-listed Bullish (BLSH), which is also the parent company of CoinDesk

The regime has earned a reputation for being one of the strictest among major financial jurisdictions. Prominent exchanges OKX and Bybit both withdrew their applications for licensing in May 2024.