The Securities and Futures Commission of Hong Kong (SFC) has granted a cryptocurrency license to Victory FinTech (VDX), an affiliated entity of listed financial services company Victory Securities (8540).
Victory received a license to operate a digital asset trading platform on Friday, the first time it has received such a license since June 17 last year, according to the Securities and Futures Commission’s Registry of Licensed Cryptocurrency Companies.
Hong Kong will roll out its current system for regulating companies providing crypto services in 2023, with Hashkey Exchange and OSL Digital Securities being the first two institutions to receive approval.
There are currently 12 approved platforms registered, including NYSE-listed Bullish (BLSH), the parent company of CoinDesk.
The regime is known as one of the strictest among major financial jurisdictions. Well-known exchanges OKX and Bybit both withdrew their license applications in May 2024.
