On December 19, 2024, the Hong Kong Securities and Futures Commission (SFC) announced the approval of four new virtual asset trading platforms (VATPs), bringing the total to seven. The newly licensed firms—Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology—were granted licenses following a rigorous inspection process focused on client asset protection, KYC protocols, and cybersecurity.
SFC's executive director, Eric Yip, emphasized the agency's commitment to balancing investor protection with the growth of the virtual asset ecosystem. The approved VATPs are authorized to deal in securities and provide automated trading services.
Currently, only Bitcoin (BTC), Ether (ETH), Avalanche (AVA), and Chainlink (LINK) are available for retail trading in Hong Kong, a market that legalized cryptocurrency trading in August 2023. The SFC plans to continue issuing licenses in batches through 2026, aiming to enhance regulatory frameworks and promote blockchain technology.