Hong Kong Regulator Issues Operational Licenses to Two Crypto Trading Platforms in 2025

Hong Kong's Securities and Futures Commission (SFC) has granted operational licenses to two crypto trading platforms, PantherTrade and YAX, bringing the total number of licenses issued to seven since mid-2024. Both platforms were registered under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. The SFC aims to issue licenses to 11 crypto service providers by the end of 2024 and has listed safeguarding client assets, Know Your Customer processes, and cybersecurity as top priorities in its 2024-2026 roadmap. Only four cryptocurrencies - Bitcoin, Ether, Avalanche, and Chainlink - are legally available for purchase and sale in Hong Kong.