There are currently 14 virtual asset trading platform licenses pending approval in Hong Kong, with plans to regulate stablecoin products by the end of the year

2024-10-29 16:41:48

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ChainCatcher news, according to a report by Hong Kong media Wen Wei Po, the Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Ye Zhi Heng, stated that the Hong Kong Virtual Asset Trading Platform (VATP) has currently issued 3 licenses and is processing another 14 applications. The SFC is taking a relatively expedited approach to approve 11 applications that are "considered for licensing," with the expectation of issuing several more licenses by the end of the year.

In addition, the Hong Kong Financial Services and the Treasury Bureau expects to regulate stablecoin products by the end of the year, while regulatory measures for issuers are planned for next year. The Monetary Authority will issue the third batch of tokenized green bonds, but there is currently no definite timetable.

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