The Hong Kong Securities and Futures Commission issues licenses to virtual asset trading platforms under a fast-track licensing process

ChainCatcher news, according to the official announcement, the Hong Kong Securities and Futures Commission has announced the issuance of licenses to four virtual asset trading platforms under the fast-track licensing procedure, including Cloud Account Greater Bay Area Technology (Hong Kong), DFX Labs, Hong Kong Digital Asset Trading Group, and Thousand Whales Technology.

These platforms must complete rectifications and pass independent third-party vulnerability assessments and penetration tests before they can operate within a restricted scope. The Securities and Futures Commission will supervise the second phase of the assessment through a tripartite agreement, and business restrictions will be lifted upon completion of the assessment. The Commission plans to release more licensing procedure guidelines in early 2025 to promote the development of Hong Kong's virtual asset ecosystem.