Hong Kong Treasury: International virtual asset trading platforms coming to Hong Kong must comply with regulations; currently 13 licensed platforms.

BlockBeats news, November 5: Hong Kong currently has 13 virtual asset trading platforms licensed by the Securities and Futures Commission (SFC). Responding yesterday to a question on attracting international platforms to set up operations, Acting Secretary for Financial Services and the Treasury Chen Haolian said that international virtual asset trading platforms may apply to the SFC for a license as long as they meet the relevant statutory requirements and the SFC's regulatory requirements. The SFC and Invest Hong Kong have also engaged with relevant international platforms to introduce Hong Kong's regulatory requirements and market opportunities. He said the SAR government and the SFC attach great importance to the quality of licensed platforms in order to properly manage risks and fully protect investors.

Chen Haolian pointed out that the government and the SFC will soon submit a bill to the Legislative Council to bring more types of virtual asset services into the regulatory regime, promote a more diversified range of international service providers operating in Hong Kong, and will continue to enhance the competitiveness of the digital asset market through clear regulation, talent and infrastructure development, and international cooperation. He also mentioned that in recent years the SFC has gradually expanded the products and services that licensed platforms may offer, facilitated access to global liquidity, and developed more digital asset and tokenized products under appropriate safeguards. Under SFC requirements, an applicant seeking to become a licensed virtual asset trading platform must obtain Type 1 and Type 7 regulated activity licenses under the Securities and Futures Ordinance, as well as a virtual asset service provider license under the Anti-Money Laundering Ordinance, and must satisfy conditions including having a physical presence in Hong Kong and appointing at least two approved responsible officers.