ChainCatcher news, according to the official website, the Hong Kong Securities and Futures Commission (SFC) announced today that all new applicants for virtual asset trading platform licenses can apply for licenses under the SFC's fast-track licensing procedure.The new licensing method requires virtual asset trading platform applicants to first establish internal policies, procedures, systems, and measures, and to conduct external assessments of the relevant measures. The SFC becomes a participant in the monitoring process, thereby overseeing the entire external assessment process.The SFC issued a circular today to provide guidance for new virtual asset trading platform operators. The SFC also published results of risk-related on-site inspections, further clarifying the regulatory standards that the SFC expects virtual asset trading platforms to meet when applying.

ChainCatcher news, according to Bitcoin.com, Emotimi Agama, the Director General of the Nigerian Securities and Exchange Commission (SEC), warned that some applicants for virtual asset service provider (VASP) licenses will be rejected for failing to meet regulatory requirements. The SEC issued crypto licenses to Busha Digital and Quidax Technologies for the first time in August 2024 through the Accelerated Regulatory Incubation Program (ARIP).Agama stated that the VASP registration process involves not only onboarding but also monitoring, education, and oversight. The SEC will continue to accept feedback from stakeholders and may amend rules based on reasonable suggestions. Although Nigeria is one of the largest crypto markets globally, the country has yet to establish dedicated cryptocurrency laws and regulations. Following adjustments in the leadership of the SEC and the central bank under the Tinubu government, the SEC has begun to take the lead in crypto regulation.

ChainCatcher news, according to the official website of the Hong Kong Securities and Futures Commission, hi5 (Hong Kong) Limited (HKX) and QuanX Lab Limited (QuanXLab) have submitted applications for virtual asset trading platform licenses to the Hong Kong Securities and Futures Commission on February 29. The English name of the operator company for HKX is "hi5 (Hong Kong) Limited", and there is no Chinese name available; the English name of the operator company for QuanXLab is "QuanX Lab Limited", and the Chinese name is "全毅科技有限公司".As of now, the number of applicants for virtual asset trading platform licenses announced by the Hong Kong Securities and Futures Commission has reached 24. Previously, the Hong Kong Securities and Futures Commission stated that virtual asset trading platforms should submit license applications by February 29, otherwise they must cease operations in Hong Kong by May 31.

According to ChainCatcher, citing informed sources from Bloomberg, in the weeks following the bankruptcy of the cryptocurrency exchange FTX last year, officials from the Dubai Virtual Assets Regulatory Authority (VARA) have recently requested Binance to provide more information about its ownership structure, governance, and audit procedures. The sources spoke on the condition of anonymity to discuss private deliberations. Three of the informed sources stated that VARA is asking all international companies seeking licenses to provide similar information. (Source link)