ChainCatcher news, Hong Kong virtual asset exchange EX.IO (Thousand Whales Technology (BVI) Limited) has obtained approval from the Hong Kong Securities and Futures Commission (SFC) to operate a virtual asset trading platform under Type 1 (Securities Trading), Type 7 (Providing Automated Trading Services) licenses, and in accordance with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).

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.

ChainCatcher news, according to an announcement from the Hong Kong Securities and Futures Commission, Cool River Venture HK Limited, founded by ByteDance co-founder Zhang Yiming, has been granted a Type 9 license (asset management license) to conduct asset management business in Hong Kong.Additionally, according to the official website of the Companies Registry of the Hong Kong Special Administrative Region government, Cool River Venture HK Limited was registered on May 22, 2023.Reports indicate that Cool River Venture is a private limited company, with Zhang Yiming as the sole director and Galaxy LLC as the sole shareholder, registered in the Cayman Islands.

ChainCatcher news, according to the Hong Kong Radio website, the CEO of the Hong Kong Securities and Futures Commission, Ashley Alder, reiterated in an interview that there will be announcements regarding the licensing of virtual asset trading platforms in Hong Kong by the end of the year. However, there was no response on whether there are platforms that have been "considered for licensing" but do not meet the standards after review. The report will disclose common issues found when platforms apply for licenses.

ChainCatcher news, Dr. Ye Zhi Heng, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, stated that virtual assets have now become a top agenda for every financial regulatory authority.Hong Kong currently has three licensed virtual asset trading platforms, and is processing applications from an additional 15 platforms. Investors can expect more licensed platforms to comply with the SFC's robust investor protection measures.

ChainCatcher news, the official website of the Hong Kong Securities and Futures Commission has updated the information on virtual asset trading platform license applications, which shows that Nebulas Exchange submitted its application for a virtual asset trading platform license to the Hong Kong Securities and Futures Commission on October 25, 2024. The name of the submitting virtual asset trading platform operator company is "Nebulas Hong Kong Limited", and there is currently no Chinese name.As of now, the number of virtual asset trading platform license applicants announced by the Hong Kong Securities and Futures Commission is 15. According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, 11 platforms including HKbitEX, PantherTrade, Accumulus, DFX Labs, Bixin.com, xWhale, YAX, Bullish, Crypto.com, WhaleFin, and Matrixport HK are considered to be granted licenses.

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.

ChainCatcher news, the Hong Kong Securities and Futures Commission (SFC) has published a vision to promote the thriving development of Hong Kong's fintech ecosystem. The SFC's current regulatory measures include risk-based on-site inspections and direct dialogues with senior management and controllers of applicants. Based on this, the Hong Kong SFC is implementing a rapid licensing approval process to handle applications from virtual asset trading platforms that are considered for licensing. To fulfill its commitment to promoting the sustainable and responsible development of the virtual asset industry, the Hong Kong SFC is collaborating with the Hong Kong SAR Government and other regulatory bodies to formulate regulatory proposals for providing virtual asset trading services and virtual asset custody services, continuing to enhance its investor protection efforts through active monitoring systems and public warnings, and deepening cooperation with other institutions.

ChainCatcher news, the current regulatory measures of the Hong Kong Securities and Futures Commission include risk-based on-site inspections and direct dialogues with the senior management and controllers of applicants. Based on this, the Hong Kong Securities and Futures Commission is implementing a rapid licensing approval process to handle applications from virtual asset trading platforms considered for licensing. The Hong Kong Securities and Futures Commission expects to issue the first batch of formal licenses to virtual asset trading platform applicants considered for licensing by the end of this year.

ChainCatcher message, to support licensed virtual asset trading platforms in developing sustainable business models, the Hong Kong Securities and Futures Commission (SFC) is establishing a formal advisory group for all licensed virtual asset trading platforms, composed of representatives from each licensed institution, to ensure that the SFC considers their views in the policy-making process.The SFC expects this advisory group to be launched in early 2025. The SFC will publish a white paper on priority regulatory matters for the virtual asset industry in the future, based on discussions from this group and feedback from other stakeholders.

ChainCatcher news, according to Hong Kong media East Network, the Hong Kong Securities and Futures Commission (SFC) discussed regulatory guidelines for crypto assets, tokenization, and artificial intelligence with representatives from 12 Asia-Pacific securities market regulatory agencies.In addition, the Hong Kong SFC also hosted the first meeting of the International Organization of Securities Commissions (IOSCO) Asia-Pacific Committee's Supervisory Directors Network, where, in addition to discussions, there was sharing of the latest market developments and observations from the business community. A commercial bank also conducted a live demonstration of artificial intelligence applications.

ChainCatcher news, according to official sources, the Hong Kong Securities and Futures Commission announced that under the legal proceedings initiated under Section 213 of the Securities and Futures Ordinance, the Hong Kong High Court has issued a temporary injunction against 11 individuals suspected of manipulating Dingyifeng Holdings Group International Limited. The individuals are prohibited from transferring any assets within Hong Kong or disposing of or handling any assets within Hong Kong in any way, or reducing the value of any assets within Hong Kong, up to a total of 6,353,386,915 HKD.In March of this year, the Shenzhen Office for the Prevention and Handling of Illegal Fundraising issued a statement through the Shenzhen Municipal Bureau of Local Financial Supervision, stating that Dingyifeng International Asset Management Group Limited was promoting the issuance of a DDO digital option within the country, soliciting public subscriptions for investment. This behavior is essentially the issuance and trading of virtual currency, which constitutes illegal financial activity. In early 2024, Dingyifeng attracted attention due to widespread inability to redeem its products.

ChainCatcher news, according to Caixin, the Hong Kong SAR government announced that the Chief Executive of the Hong Kong SAR has appointed Dr. Huang Tianyou as the Chairman of the Securities and Futures Commission (SFC) in accordance with the Securities and Futures Ordinance (Chapter 571), for a term of three years, from October 20, 2024, to October 19, 2027.

ChainCatcher news, according to the latest updates from the official website of the Hong Kong Securities and Futures Commission, the virtual asset trading platform license application submitted by HKDAX has been withdrawn on October 9.Relevant information shows that the company name of the virtual asset trading platform operator submitted by HKDAX is "Hong Kong Digital Asset Xchange Limited," and the Chinese name is not applicable. HKDAX first submitted the virtual asset trading platform license application to the Hong Kong Securities and Futures Commission on August 27, 2024.As of now, the total number of applicants for virtual asset trading platform licenses that have been withdrawn or returned, as announced by the Hong Kong Securities and Futures Commission, is 13, of which 1 has been returned; the number of applicants for virtual asset trading platform licenses is 15, of which 11 are considered as applicants for the issued licenses, and the list of licensed virtual asset trading platforms is 3.

ChainCatcher news, the CEO of the Hong Kong Securities and Futures Commission, Ashley Alder, stated that the first phase of on-site inspections for virtual asset trading platforms (VATP) has been completed. The deficiencies identified during the on-site inspections have been communicated to the applicant platforms, requiring improvements.Alder added that the Hong Kong Securities and Futures Commission will announce the next phase plan in due course. Platforms that meet the standards will be granted conditional licenses. Applicant platforms that have been pointed out by the Commission for deficiencies must submit improvement plans to the Commission. Similar to the previous VATP transition period, the next phase plan will also include a deadline. Those who fail to meet the requirements within the deadline will lose their "considered for licensing" status and will orderly cease their operations in Hong Kong.