TechFlow reported, according to Cointelegraph, that Hong Kong-based cryptocurrency exchange DFX Labs has passed the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) review conducted by the Securities and Futures Commission (SFC) and obtained the "deemed licensed" status for virtual asset services. Although not yet authorized to conduct trading activities, DFX Labs is now considered eligible to provide virtual asset services. According to records released by the SFC, DFX Labs applied for a Hong Kong cryptocurrency license on December 27, 2023, and was deemed licensed as of June 1, 2024. However, the SFC has not formally issued a license to DFX Labs, and its application remains under review.
Recently, Hong Kong's Economic and Trade Office, Investment Promotion Agency, and startup support organization StartmeupHK jointly hosted an event in Toronto, aiming to attract Canadian cryptocurrency and Web3 startups to expand into Hong Kong. The Hong Kong government emphasized its startup-friendly regulations and low tax policies, hoping to draw global entrepreneurial companies. In May this year, all unlicensed cryptocurrency exchanges were forced to cease operations in Hong Kong, with many platforms that had applied for licenses ultimately withdrawing their applications, including major platforms such as OKX, Huobi Hong Kong, and Bybit.
