Hong Kong Will Disclose Crypto License Applicants

Officials from Hong Kong have announced that they will release a list of companies that have applied for the new retail crypto trading licenses, as the controversy surrounding JPEX continues to escalate.

According to a statement from the Securities and Futures Commission, this list will include licensed virtual asset trading platforms (VATPs), those that have ceased operations, VATPs that are considered to have licenses until June 1, 2024, and a list of applicants for VATP licenses, in response to public demand.

“To aid the public in identifying suspicious VATPs operating in Hong Kong and to increase awareness, the SFC will enhance and publish a separate list of suspicious VATPs on our website,” stated Elizabeth Wong, Director of Licensing and Head of Fintech Unit, Intermediaries of the SFC, during a press briefing.

Wong also shared that currently, four companies are in the process of applying for licenses, as reported by local media outlet RTHK.

This announcement follows a warning from the regulator on September 13, stating that crypto influencers and the trading platform JPEX had spread false or misleading information on social media by suggesting that the platform was in the process of obtaining a virtual asset trading license in Hong Kong.