Hong Kong Grants First Crypto License Since June to Victory Fintech
- The Securities and Futures Commission (SFC) of Hong Kong approved a crypto license for Victory Fintech (VDX).
- Victory Fintech is an affiliate of publicly listed Victory Securities (8540).
- This marks the first addition to the SFC’s registry of licensed crypto firms since June 17 last year.
- There are now a total of twelve approved digital asset trading platforms, including Bullish (BLSH).
- The regulatory regime in Hong Kong is considered one of the strictest globally for crypto services.
Victory Fintech’s licensing comes as part of Hong Kong’s efforts to regulate digital asset trading platforms, which began in earnest in recent years. This approval highlights the ongoing development and scrutiny within the cryptocurrency sector in major financial jurisdictions.
With this new license, there are now twelve approved platforms under Hong Kong’s stringent regulatory framework, reflecting a cautious approach to crypto oversight.(Source)
