Hong Kong Plans to Approve More Crypto Exchange Licenses by End of Year

Julia Leung, CEO of the Hong Kong Securities and Futures Commission (SFC), has announced plans to approve more cryptocurrency exchanges to operate in Hong Kong by the end of the year.

According to Leung, 11 platforms that have applied for a license have undergone on-site reviews and she expects further progress on their applications by the end of 2021.

This comes after the recent approval of local exchange HKVAX’s application, making it the third licensed exchange in the city.

HashKey, OSL, and the parent company of CoinDesk, Bullish, have also applied for licenses. The exact number of applicants is unclear, as the SFC website lists 11 while another page lists 16.