In the midst of its continued push to become a crypto hub, Hong Kong has seen two dozen companies apply to operate digital asset exchanges in the city.
Hong Kong has seen 24 firms apply for licenses to operate virtual asset exchanges in the city. This includes major players such as Bybit, OKX and Crypto.com. There are currently only two authorized exchanges: HashKey Exchange and OSL Group.
«[T]he deadline of 29 February 2024 has passed for virtual asset trading platforms (VATPs) to submit license applications,» said the Securities and Futures Commission (SFC) in a statement. «As a result, VATPs that are operating in Hong Kong but did not submit license applications to the SFC by the 29 February 2024 deadline must close down their businesses in Hong Kong by 31 May 2024, pursuant to the transitional arrangements.»
