• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Crypto

Major Milestone: Hong Kong Regulator Approves 11 Crypto Exchanges To Operate In The City

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Hong Kong Securities and Futures Commission (SFC) has recently granted initial approval to 11 cryptocurrency exchanges to continue operating in the city. 

This marks the first step towards issuing virtual asset trading platform (VATP) licenses since 2022. The move comes as Hong Kong aims to establish itself as a prominent crypto hub alongside global counterparts like Singapore and Dubai.

Hong Kong’s Crypto Exchange Scene Faces Regulatory Hurdles

According to a South China Morning Post report, among the approved exchanges, Crypto.com, originally founded in Hong Kong and now operating from Singapore, stands out as the largest exchange “deemed to be licensed.” 

Notably, it is the only exchange within the top 20 by 24-hour trading volume measured by CoinGecko, still seeking a license in Hong Kong. Bullish, incorporated in Gibraltar but also operating from Singapore and New York, is the next significant exchange deemed licensed.

Related Reading: Australia’s First Spot Bitcoin ETF Debuts Tomorrow: What You Need To Know

Under the new regulations introduced last year, cryptocurrency exchanges must obtain approval for the deeming arrangement to continue operating while awaiting full licensing approval. 

The deadline for exchanges not seeking a license to cease operations was June 1. However, some exchanges have withdrawn their license applications due to complications arising from the regulatory changes.

Several exchanges that withdrew their applications had ties to mainland China, where they were originally founded but left following Beijing’s crackdown on digital tokens. Notable exchanges include local affiliates of major platforms such as OKX, Binance, HTX, KuCoin, Gate.io, and, most recently, Bybit. 

The Hong Kong government has emphasized compliance with regulations, including measures to prevent mainland Chinese residents from accessing crypto platforms and the recently approved spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) markets. 

Market Confidence Shaken? 

Per the report, the withdrawals have raised concerns about Hong Kong’s progress in attracting crypto-related businesses and developing a thriving Web3 ecosystem. The city began its efforts to become a crypto hub in late 2022. 

Legislative Council member Duncan Chiu, representing the information technology sector, expressed in an opinion piece that the withdrawals had shaken market confidence in local Web3 development. Despite hopes of accessing mainland Chinese customers, Beijing maintains a strict ban on commercial crypto activities on the mainland.

The financial authority of Shenzhen, the city neighboring Hong Kong, recently issued a warning against cross-border cryptocurrency trading, emphasizing that such activities are “illegal and subject to criminal liabilities.” 

The notice also highlighted the dangers of crypto-related fraud and reiterated the illegality of providing internet services to mainland customers without approval.

Related Reading: Shiba Inu Begins New Week On A Negative Note As Burn Rate Crashes 97% With Only Two Transactions

Overall, Hong Kong’s granting of initial approval to exchanges represents a significant step in the city’s regulatory journey toward becoming an innovation hub. However, challenges remain, including withdrawing exchanges with mainland Chinese ties and Beijing’s strict commercial digital asset activity ban. 

The future of Hong Kong’s virtual asset market will depend on striking a balance between regulatory compliance, market confidence, and attracting businesses within the evolving global crypto landscape.

Crypto
The daily chart shows that BTC’s price is trending upward. Source: BTCUSD on TradingView.com

As of press time, the largest cryptocurrency on the market, Bitcoin, is trading at $69,200 after briefly climbing toward the $70,400 mark in the early hours of Monday’s trading session. 

Featured image from Unsplash chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Bitcoin Prepares for Another Surge as Whales Buy $329K Bitcoin Hyper in a Day.

Bitcoin Prepares for Another Surge as Whales Buy $329K Bitcoin Hyper in a Day

21 minutes ago
Crypto

No License, No Problem? Wisconsin Bill Aims To Ease Crypto Rules

42 minutes ago

Spot XRP And Dogecoin ETF Approval Odds Hit 100%, Says Bloomberg Expert

1 hour ago
Best Crypto Presales to Watch as Bitcoin Reclaims $114K Ahead of Uptober

Best Crypto Presales to Watch as Bitcoin Reclaims $114K Ahead of Uptober

1 hour ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 29)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 29)

38 minutes ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 30)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 30)

37 minutes ago

Premium Sponsors

Press Releases

  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    9 hours ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    4 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    6 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    1 week ago
  • Snorter надхвърли $4 милиона след...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.