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Cryptocurrency News Articles
Hong Kong issues nine digital asset platform licenses
Feb 19, 2025 at 12:04 pm
The government is also working to advance the regulation of stable coin
Hong Kong authorities have granted licenses to nine digital asset platforms, with more expected to be approved in the coming months, Financial Secretary Paul Chan said at the Coindesk's Consensus Hong Kong 2025 conference on Wednesday.
The government is also working on stable coin regulation, Chan added.
Hong Kong began planning to become a virtual asset hub in 2022, following China's sweeping ban on all crypto transactions the previous year.
It has since launched the first spot crypto exchange-traded funds in Asia, among other initiatives.
Singapore and Dubai are also vying to become global hubs for virtual assets.
Bitcoin's price more than doubled last year and hit an all time high of $109,071 on January 20, the day of Donald Trump's inauguration, but has since pulled back to stand around $96,000.
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