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Hong Kong continues its push to establish itself as a leading digital asset hub, with the Securities and Futures Commission granting Bullish, a Peter Thiel-backed crypto exchange, regulatory approval to operate in the city. This brings the total number of licensed virtual asset trading platforms in Hong Kong to ten. The Securities and Futures Commission reaffirmed its commitment to a “vibrant and promising” digital asset future, outlining a roadmap that emphasizes regulatory clarity, institutional participation, and enhanced investor protections. These developments were further highlighted during Consensus Hong Kong 2025, where Securities and Futures Commission CEO Julia Leung spoke about the city’s ongoing regulatory efforts and the introduction of crypto derivatives and margin lending for professional investors. Fireside chat with Julia Leung CEOof Hong Kong Securities and Futures Commission – Hong Kong is focused on providing a regulatory framework for crypto assets that promotes growth, responsible innovation, and attracts institutional investment. This includes allowing in-kind… pic.twitter.com/o5oWaPs45T — Romain Pellerin (@rom1_pellerin) February 19, 2025 Retail access and market development: a calculated expansion strategy In a statement sent to crypto.news, Jodee Lee, head of legal at Flipster, provided insights into Hong Kong’s phased approach to retail crypto access, describing it as a “calculated strategy” to balance market growth with risk management. “Hong Kong’s phased approach to virtual asset regulation reflects a calculated strategy to balance market growth with risk management. By initially permitting access to professional investors only, the SFC ensured that trading platforms could refine compliance protocols, stress-test their operational resilience, and implement investor protections without exposure to retail participants. […]” Lee emphasized that this approach also gave the SFC time to iterate on compliance measures and enhance regulatory oversight. Hong Kong’s competitive edge in the global crypto race Another key theme in Hong Kong’s regulatory expansion is how it compares to…

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Filed under: News - @ February 19, 2025 6:18 pm