Hong Kong's Securities and Futures Commission announces new virtual asset licenses to be issued in Q1 2025. 11 applicants may not all pass due to strict investor protection red lines. China's central bank acknowledges HK's regulatory efforts, but Singapore outpaces in license approvals.
Hong Kong SFC executive director Ye Zhiheng stated new virtual asset licenses will be issued in Q1 2025 after onsite inspections of all applicants. However, not all 11 platforms are guaranteed approval due to regulatory red lines like investor protection and security. Hong Kong lags behind Singapore despite recent progress.
Hong Kong Securities and Futures Commission executive director Ye Zhiheng announced that new virtual asset trading platform licenses will be issued soon, with positive news expected in Q1 2025. Not all 11 applicants are guaranteed approval due to red lines on investor protection and security. Hong Kong lags behind Singapore in licensing pace.
Hong Kong's SFC executive director Ye Zhiheng announced new virtual asset licenses will be issued in Q1 2025, but stressed regulatory red lines, including investor protection. Of the 11 applicants, none are guaranteed approval, as Hong Kong seeks to catch up with Singapore in crypto adoption.
Alchemy Pay upgraded its SFC Type 1 license in Hong Kong, allowing regulated virtual asset services for professional and retail investors. The move deepens its compliance strategy and paves the way for Type 9 license, bridging digital assets with traditional finance.
Hong Kong-listed Bitfire Group plans to attract over 10,000 BTC (worth $760M) for the Alpha BTC strategy, aiming to bring Asian capital home from US ETFs and offshore exchanges.
Hong Kong police have charged 10 additional individuals (6 men, 4 women) with money laundering in the JPEX crypto scam, bringing total charged to 26. Over 2,700 victims reported losses exceeding HK$1.6 billion. Assets worth HK$228 million have been frozen, and Interpol issued red notices for three fugitives.
Hong Kong police charge 10 additional individuals (6 men, 4 women) in the JPEX crypto scam, bringing total charged to 26. Over 2,700 victims report losses exceeding HK$1.6 billion; HK$228 million in assets frozen.
