Well, folks, it seems the Hong Kong Securities and Futures Commission has gone and handed out shiny new virtual asset licenses to a couple of local crypto exchanges—Panthertrade and YAX. 🐾🐯 Now, ain’t that a hoot? These two are now officially part of the big leagues, or at least the Hong Kong version of it.
On January 27, the SFC updated its list of virtual asset trading platforms with these two new additions. But don’t get too excited—the SFC was quick to remind everyone that just because they’re on the list doesn’t mean they’re trustworthy. 🙃 “We’re not guaranteeing anything,” they said, in so many words. Classic government move, right?
So far, there are nine platforms with licenses, including OSL, HashKey, and a few others with names that sound like they were picked out of a hat. 🎩 And there are six more applicants waiting in the wings, hoping to get their golden ticket. Among them are Hong Kong BGE, Whalefin Markets, and Flying Hippo Technologies. Yes, you read that right—Flying Hippo. 🦛✈️
Now, here’s the kicker: Panthertrade is actually part of a Chinese Internet company called Cheetah. 🐆 And YAX? It’s a subsidiary of Tiger Brokers. So, we’ve got a cheetah and a tiger in the mix. Someone’s clearly been watching too much Animal Planet. 🐅
Back in October, the SFC said they’d approve a new batch of licenses by the end of 2024. But, surprise, surprise, that’s been pushed to early 2025. 🎉 Ye Zhiheng, the Executive Director of the Intermediary Department, hinted that “good news” is coming in a month or two. But let’s be real—when it comes to government timelines, “a month or two” could mean anything from next week to next decade. 🕰️
Hong Kong’s been trying to become a crypto hub, but they’re lagging behind Singapore, which issued twice as many licenses last year. 🐢🐇 It’s like watching a turtle race a rabbit, and the turtle keeps stopping for tea breaks. 🫖
So, there you have it. Hong Kong’s crypto scene is slowly but surely (emphasis on the slowly) moving forward. Whether it’s worth the wait? Well, that’s anyone’s guess. 🤷♂️
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2025-01-27 16:31