Hong Kong regulators have announced plans to issue new licenses for cryptocurrency trading platforms in the country. The Executive Director of the Hong Kong Securities and Futures Commission stated that virtual asset licenses will be issued soon, with "good news" expected in the first quarter of 2025. However, there is no guarantee that all 11 platforms will receive licenses, as there are regulatory requirements they must meet, including investor protection and security measures. Hong Kong has been praised for its efforts to issue more licenses, but it still lags behind Singapore in terms of the number of licenses granted. The issuance of licenses has reportedly been delayed due to regulatory hurdles, and the target for approval has been pushed back to early 2025. Hong Kong categorizes cryptocurrencies into security tokens and non-security tokens, each with their own licensing standards. Security tokens are subject to the Hong Kong SFC's regulatory framework, while non-security tokens comply with anti-money laundering regulations.



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