In the grand spectacle of Hong Kong’s inaugural crypto licensing party of 2025, the SFC (Securities and Futures Commission) has rolled out the red carpet for PantherTrade and YAX, two local crypto exchanges. But, alas, poor XRP stands alone in the cold, left off the list of approved cryptocurrencies.
While the rest of the world is dancing with Bitcoin (BTC), Ether (ETH), Avalanche (AVAX), and Chainlink (LINK), XRP is left to twiddle its thumbs. The question remains: why the snub? Could it be the lingering legal woes Ripple faces across the globe? Or perhaps XRP just didn’t bring the right kind of digital doughnuts for the regulators? We may never know.
Meanwhile, PantherTrade and YAX have registered under Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) and joined the ranks of 10 other exchanges that resumed operations in 2020 under AMLO rules. The SFC had initially planned to approve 11 crypto trading platforms by the end of 2024, but strict compliance checkers, including AML laws, KYC processes, and cybersecurity measures, proved to be a bit of a buzzkill.
So, here’s to XRP, the cryptocurrency equivalent of the wallflower at the high school dance. May you one day find the courage to step onto the dance floor and show the world your moves.
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2025-01-31 17:56