TechFlow reports, according to Caixin, Hong Kong's virtual asset trading platform operator licensing regime is effectively a dual-license system. In addition to the licensing framework under the Securities and Futures Ordinance applicable to security tokens, there is another licensing regime under the Anti-Money Laundering Ordinance, effective June 1, 2023, for non-security tokens.
Currently, several virtual asset trading platforms, including OSL Exchange and HashKey Exchange, are applying for the second type of license, but no licenses have been granted yet.
The Hong Kong Securities and Futures Commission emphasizes that the characteristics and definition criteria of virtual assets may evolve, and to ensure compliance, virtual asset platforms should hold both licenses.
