The Securities and Futures Commission (SFC) in Hong Kong has granted licenses to two local crypto exchanges, PantherTrade and YAX, to operate in the city. However, Ripple's XRP was noticeably absent from the list of approved cryptocurrencies for trading. This raises questions about the regulatory standing of XRP in Hong Kong. Licensed exchanges in the region must comply with strict regulations, including anti-money laundering and counter-terrorist financing laws. Previously, the SFC had planned to approve 11 crypto trading platforms by the end of 2024 but faced delays. The reason for excluding XRP from the approved list is unclear, but it may be related to Ripple's legal issues in other countries.



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