Hong Kong Grants Crypto License to Victory Fintech, Expands Regulated Digital Asset Market

TheNewsCryptoPublished on 2026-02-17Last updated on 2026-02-17

Abstract

Hong Kong's Securities and Futures Commission (SFC) has granted a cryptocurrency trading license to Victory Fintech, a publicly listed financial services company. This marks the first such license issued since June 2025, bringing the total number of licensed crypto trading platforms in Hong Kong to 12. The city introduced a strict crypto licensing regime in 2023, requiring all virtual asset trading platforms to obtain SFC approval. Due to stringent compliance requirements, major global exchanges like OKX and Bybit withdrew their applications in 2024. Unlicensed operations have been treated as a criminal offense since June 2024. Regulators are gradually expanding permitted crypto services, now allowing licensed brokers to offer virtual asset margin financing—initially only with BTC and ETH as collateral—and perpetual contracts to professional investors under strict guidelines. Hong Kong aims to balance innovation with investor protection, maintaining a tightly controlled regulatory environment. Future plans include introducing draft legislation in 2026 to regulate crypto advisory services. Currently, no stablecoin issuers have been approved by the Hong Kong Monetary Authority.

Hong Kong’s Securities and Futures Commission (SFC) has approved a license to a cryptocurrency trading platform for Victory Fintech, which is a publicly listed financial service company. Since June 2025, this was the first license issued by SFC, with a total of 12 licensed crypto trading platforms in Hong Kong.

Strict Crypto Rules of Hong Kong

Hong Kong introduced its crypto licensing regime in 2023. Under this framework, all the virtual asset trading platforms must obtain formal approval from the SFC to operate, which makes this system one of the strictest among other global hubs. Major global exchanges like OKX and Bybit withdrew their applications in 2024 due to the strict compliance requirements, and since June 2024, the unlicensed crypto platform in Hong Kong has been treated as a criminal offense.

The approval for Victory Fintech came right after the Hong Kong regulators gradually expanded permitted crypto services. Recently, SFC announced that the licensed brokers can now offer virtual asset margin financing, and only BTC and ETH are initially approved as collateral. Now platforms can also offer perpetual contracts to professional investors under strict guidelines. This shows that Hong Kong is carefully broadening the crypto products in the market under tight control.

Future regulation plans

Hong Kong regulators are planning to implement more rules. In January, Christopher Hui, who was the Financial Services and Treasury secretary, announced that authorities are planning to introduce draft legislation in 2026 to regulate the firms offering crypto advisory services. However, right now, Hong Kong’s Monetary Authority has not yet approved any stablecoin issuers.

Hong Kong aims to balance innovations with strong investor protection by approving a license to Victory Fintech. Hong Kong remains with strict but structured crypto regulations, with only fully compliant firms allowed to operate.

Highlighted Crypto News:

Trezor and Ledger Users Targeted by Fraudulent Physical Mail Scams

How Tron’s entry into AAIF could position TRX to lead AI agent boom

ambcrypto29m ago

Loss-Making XRP Supply Surges As Market Struggles To Find Support

XRP is experiencing significant bearish pressure, with its price remaining below $2. A notable 60% of its circulating supply, approximately 36.8 billion XRP, is currently held at a loss—a higher percentage than during major past crises like the COVID period, the China ban, or the FTX collapse. This indicates weakened bullish activity and growing investor uncertainty. Despite this, exchange reserves of XRP have decreased by over 3 billion tokens, suggesting a potential supply squeeze. Technically, XRP is positioned between key liquidity clusters, and a decisive price move could trigger increased volatility and possible liquidations. The token traded at $1.39 at the time of reporting.

bitcoinist29m ago

Loss-Making XRP Supply Surges As Market Struggles To Find Support

bitcoinist29m ago

Assessing Bitmine’s 5,300 Ethereum transfer amid ETF outflows

Bitmine Immersion Technologies, led by Tom Lee, transferred 5,300 ETH (worth $10.75 million) to a Coinbase Prime address on March 10, a notable move given the company’s aggressive accumulation strategy. While this may suggest a temporary adjustment, the transfer could also relate to operational needs like OTC trading or liquidity management rather than a strategic shift. The action coincides with a 9.64% drop in Bitmine’s stock and ETF outflows, yet corporate Ethereum holdings have grown significantly since mid-2025, exceeding 6 million ETH. Bitmine stakes roughly two-thirds of its 4.5 million ETH holdings, generating substantial annual revenue, reflecting long-term confidence in Ethereum as income-generating infrastructure.

ambcrypto1h ago

Assessing Bitmine’s 5,300 Ethereum transfer amid ETF outflows

ambcrypto1h ago

A Bullish Pennant Just Appeared On The Dogecoin Monthly Chart, Here’s What To Expect

A massive bullish pennant pattern is forming on the Dogecoin (DOGE/USD) monthly chart, a development that began after the cryptocurrency's historic rally in 2021. The pattern started with a sharp "flagpole" surge that took DOGE from under $0.01 to its all-time high of $0.73. Since that peak, the price has been compressing between two converging trendlines, creating a symmetrical triangle with a series of lower highs and higher lows. The price is currently testing a critical juncture, trading near the lower, rising support trendline around $0.09. Holding this support is crucial for the pattern's validity; a monthly close below it would weaken the bullish outlook. For the pattern to confirm and trigger a significant breakout, DOGE must first push above the upper, descending trendline, which requires closing consecutive months above the $0.32 level. If a breakout occurs, the measured move target—calculated from the height of the 2021 flagpole—projects a substantial upward move. Conservative estimates suggest a target well above $1, with more optimistic projections reaching the $3 to $4 range.

bitcoinist1h ago

A Bullish Pennant Just Appeared On The Dogecoin Monthly Chart, Here’s What To Expect

bitcoinist1h ago

AI Lobster Ranking, XXX Takes an Overwhelming First Place; Governments Compete to Issue Token Subsidies; Airdrop Hunters Have Started Delivering for Meituan

This article summarizes recent discussions in the cryptocurrency space based on content from the X platform. Key topics include: - An "AI Lobster Ranking" where the top performer significantly outpaces the others, with the combined scores of the second to sixth places being less than one-tenth of the first. - Major Chinese municipalities are introducing token subsidies to encourage development, drawing comparisons to past electricity subsidies and sparking mixed reactions about the government's strategy. - Elon Musk's X platform is reportedly preparing to launch "Xmoney," featuring an 8% annual yield, which could disrupt the crypto exchange landscape if fully implemented. - "Airdrop hunters" (people seeking crypto rewards) are expressing anxiety about the increasing difficulty of profiting in the Web3 space, with some humorously mentioning turning to alternative jobs like working for Meituan (a delivery platform). - A list of controversial Key Opinion Leaders (KOLs) is being circulated, questioning their credibility. The content is presented as community discussion and explicitly states it does not constitute investment advice.

比推1h ago