The Securities and Futures Commission (SFC) of Hong Kong has granted two new licenses to cryptocurrency trading platforms, bringing the total number of licenses issued to seven since mid-2024.
The Securities and Futures Commission (SFC) of Hong Kong has issued the first operating licenses of 2025 to two cryptocurrency trading platforms. Since it began issuing licenses in mid-2024, the SFC has granted a total of seven licenses to cryptocurrency companies.
On January 27, the SFC granted operational licenses to two Hong Kong-based cryptocurrency exchanges: PantherTrade and YAX. According to public records maintained by the Hong Kong government, both platforms are registered under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).
Delays in the Registration Process for Crypto Exchanges
To date, 10 cryptocurrency exchanges have been officially registered in Hong Kong under AMLO since 2020, allowing them to operate virtual asset trading platforms. In October 2024, SFC CEO Julia Leung stated that the regulator aimed to issue licenses to 11 crypto service providers by the end of the year.
By that time, the SFC had completed the first round of "on-site" inspections of crypto firms, focusing on safeguarding customer assets, assessing know-your-customer (KYC) processes, and reviewing cybersecurity measures.
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