Hong Kong Gears To Approve More Crypto Exchanges This Year!

Reportedly, the Hong Kong Securities and Futures Commission (SFC) has planned to approve more crypto exchanges to operate this year. Notably, CEO, Julia Leung highlights that 11 applicants had undergone an on-site review recently. Moreover, HKVAX received regulatory approval last week, making it the 3rd exchange to do so. However, the SFC did not answer a request for clarification about the number of applicants. However, 1 page shows 11 applicants for the licensing, while another lists 16. The promise of future approvals comes post criticism that the current regime is too strict and is potentially damaging the goal of Hong Kong becoming a crypto and web3 hub.