Hong Kong SFC Brings Up Licensed Exchanges Count to 10 With Recent Approval

• Hong Kong SFC approved Bullish exchange, raising the count of licensed exchanges in the capital. 
• The regulator has been working on cryptocurrency exchanges licensing over the past year.

After a brief silence, the Asian crypto markets have once again sprung up into action. The Hong Kong ConsenSys 2025 is off to a great start as per reports. Meanwhile, the Bitcoin Tech Carnival drew much attention with intriguing updates about the web3 sector. The overall crypto market, on the other hand, has remained bearish in the last 24 hours. 

Recently, a few hours ago, the capital’s regulator approved another crypto exchange’s license. The final licensed crypto exchange is Bullish, whose Senior Vice President of global sales head commented on the importance of business in Hong Kong. Bullish also released an official statement regarding the approval.

Bullish CEO, Tom Farley stated in the official statement:

“We believe that clear regulation is crucial for fostering trust in the digital asset industry, and we will continue to invest our efforts in expanding the compliant and regulated environment that Bullish Exchange has offered our customers and channel partners from day one.”

Liu Dehao, the Vice President, discussed how the crypto exchange considers the Chinese capital to be crucial for its growth. They currently have over 100 employees from the city and are aiming to land institutional clients post this approval. 

Moreover, this recent approval has brought the number of licensed crypto exchanges in Hong Kong to an even 10. Other exchanges currently holding approvals include, OSL Exchange, HashKey Exchange, DFX Labs, and others. 

Is Hong Kong SFC Redefining its Crypto Regulatory Landscape? 

Over the past year, Hong Kong has made the crypto headlines several times owing to its reformations in regulations. The Securities and Futures Commission (SFC) in Q2 of 2024 introduced strict licensing procedures for crypto exchanges. 

The regulator also released a list of exchanges under a warning for trading without a license. The process continued to the present time, with the SFC approving and releasing updates on its official website at regular intervals. 

These efforts depict the Capital’s attempt to reform and bring clarity to crypto regulations. With growing adoption numerous community members speculate that Hong Kong is aiming to rise as a leading hub within the sector. 

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