Hong Kong’s Securities and Futures Commission (SFC) has made a significant move in the cryptocurrency landscape by granting its first two operational licenses of 2025 to exchanges PantherTrade and YAX. This development is part of the city’s ongoing efforts to enhance its regulatory framework for virtual assets.

With these new licenses, the total number of crypto licenses issued since mid-2024 has reached seven. The SFC’s commitment to secure trading practices is evident as both exchanges are registered under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). To ensure investor protection and promote growth in the sector, the regulatory body has implemented strict measures, including:

• Know Your Customer (KYC) protocols
• Asset safeguarding
• Improved cybersecurity standards

Since 2020, Hong Kong has officially licensed a total of 10 exchanges, with four licenses awarded in December 2024 alone. Currently, only four cryptocurrencies—Bitcoin, Ether, Avalanche, and Chainlink—are permitted for trading in the region, reflecting the city’s cautious yet progressive approach to cryptocurrency regulation.

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