Hong Kong issues first crypto licences of 2025

Since 2020, 10 exchanges have been licensed as part of a cautious yet progressive strategy, with only Bitcoin, Ether, Avalanche, and Chainlink approved for trading.

Hong Kong

Hong Kong’s Securities and Futures Commission (SFC) has awarded its first two crypto operational licences of 2025 to exchanges PantherTrade and YAX. These licences bring the total number of crypto licences issued since mid-2024 to seven, as Hong Kong continues its push to regulate the virtual asset industry.

Both exchanges were registered under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), marking a significant step in the city’s efforts to ensure secure crypto trading. The SFC has been focused on rigorous checks, including Know Your Customer (KYC) processes, asset safeguarding, and cybersecurity, to ensure high regulatory standards.

With Hong Kong aiming for a balanced approach, it has now formally licensed 10 exchanges since 2020, including four in December 2024. These measures are designed to protect investors while promoting growth in the digital asset sector.

Currently, only four cryptocurrencies—Bitcoin, Ether, Avalanche, and Chainlink—are legally available for trade in Hong Kong, highlighting the city’s cautious but forward-looking stance on crypto regulation.