The Securities and Futures Commission (SFC) of Hong Kong will be issuing a license to cryptocurrency firm OSL Digital Securities, reported Reuters.
OSL, a unit of Fidelity-backed BC Group, became the first firm in November last year to apply for a digital license under the market regulator's new rules allowing cryptocurrency exchanges to opt into regulation.
The company revealed in its exchange filing on Friday that the financial regulator has agreed in principle to grant the license.
The final approval, however, is subject to certain conditions, which "you'd expect from a conservative regulator in a financial hub," said BC Group CEO Hugh Madden.
