• Hong Kong will license 11 crypto exchanges, including Crypto.com and Bullish.
• The deadline for exchanges to be licensed or “deemed to be licensed” is June 1st.
• Major players like Binance, OKX, and Coinbase did not apply for licenses.

Hong Kong’s Securities and Futures Commission (SFC) has announced that 11 virtual asset trading platforms (VATPs) are poised to receive official licenses, a year after the city introduced new regulations to foster a thriving crypto industry.

Prominent platforms such as Crypto.com and Bullish, identified as “deemed to be licensed” in the SFC’s recent update, are among the applicants close to receiving the licenses. These exchanges, known for their significant global trading volumes, are now a step closer to operating fully under Hong Kong’s regulatory framework.

However, not all major players have sought licensing in Hong Kong. Exchanges like OKX and Bybit have withdrawn their applications, while Binance, the world’s largest exchange, did not apply. Leading U.S.-based platforms Coinbase Global and Kraken have also opted out of seeking permits.

The SFC set June 1 as the deadline for exchanges to either secure a license or be …

The post Hong Kong’s Crypto Crackdown? 11 Exchanges Get Nod, But Big Names Skip Out appeared first on Coin Edition.

• Hong Kong will license 11 crypto exchanges, including Crypto.com and Bullish.
• The deadline for exchanges to be licensed or “deemed to be licensed” is June 1st.
• Major players like Binance, OKX, and Coinbase did not apply for licenses.

Hong Kong’s Securities and Futures Commission (SFC) has announced that 11 virtual asset trading platforms (VATPs) are poised to receive official licenses, a year after the city introduced new regulations to foster a thriving crypto industry.

Prominent platforms such as Crypto.com and Bullish, identified as “deemed to be licensed” in the SFC’s recent update, are among the applicants close to receiving the licenses. These exchanges, known for their significant global trading volumes, are now a step closer to operating fully under Hong Kong’s regulatory framework.

However, not all major players have sought licensing in Hong Kong. Exchanges like OKX and Bybit have withdrawn their applications, while Binance, the world’s largest exchange, did not apply. Leading U.S.-based platforms Coinbase Global and Kraken have also opted out of seeking permits.

The SFC set June 1 as the deadline for exchanges to either secure a license or be …

The post Hong Kong’s Crypto Crackdown? 11 Exchanges Get Nod, But Big Names Skip Out appeared first on Coin Edition.