Hong Kong ends license application drive for crypto exchanges

Hong Kong has ended accepting license applications from crypto exchanges as of Feb 29. The Securities and Futures Commission (SFC) of Hong Kong noted that all the non compliant crypto exchanges in Hong Kong must wind up their business by May 31, 2024 and also urged the investors using virtual asset trading platforms to migrate to the licensed platforms if the current one is not licensed yet.

Once licensed, the crypto exchanges can enable trading Bitcoin and Ether. Various altcoins and stablecoins are under review by the SEC for trading approval.