Hong Kong plans to license digital asset exchanges by the end of 2024 after a five-month review of crypto platforms. Eric Yip, Executive Director for Intermediaries at the Securities and Futures Commission (SFC), said this during Hong Kong’s Fintech Week event. According to Yip, digital asset exchanges will transition from initial permits to fully licensed status once they meet the SFC’s regulatory standards. These platforms addressed the SFC’s feedback, allocated resources to regulatory concerns, and adopted a sustainable, compliant operational model.
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