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

TheNewsCryptoОпубликовано 2026-02-17Обновлено 2026-02-17

Введение

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

Связанные с этим вопросы

QWhat is the significance of Victory Fintech receiving a crypto license from Hong Kong's SFC?

AVictory Fintech is the first company to receive a crypto trading license from Hong Kong's Securities and Futures Commission (SFC) since June 2025, bringing the total number of licensed platforms to 12, which expands the regulated digital asset market in the region.

QWhy did major global exchanges like OKX and Bybit withdraw their applications in Hong Kong?

AOKX and Bybit withdrew their applications due to the strict compliance requirements of Hong Kong's crypto licensing regime, which mandates formal SFC approval for all virtual asset trading platforms to operate legally.

QWhat new services can licensed brokers in Hong Kong now offer according to recent SFC announcements?

ALicensed brokers can now offer virtual asset margin financing with BTC and ETH initially approved as collateral, and they can also provide perpetual contracts to professional investors under strict guidelines.

QWhat future regulatory plans did Christopher Hui announce for Hong Kong's crypto market?

AChristopher Hui, the Financial Services and Treasury secretary, announced that authorities plan to introduce draft legislation in 2026 to regulate firms offering crypto advisory services.

QHow does Hong Kong's approach to crypto regulation balance innovation and investor protection?

AHong Kong aims to balance innovation with strong investor protection by maintaining strict, structured crypto regulations that allow only fully compliant firms, like Victory Fintech, to operate in the market.

Похожее

OpenAI's Largest Internal Wealth Creation: 600 People Cash Out a Total of $6.6 Billion, 75 Take Home the Maximum $30 Million Each

A Wall Street Journal report reveals OpenAI's unprecedented pre-IPO wealth creation. In a single employee stock sale last October, over 600 current and former employees sold shares, collectively cashing out approximately $6.6 billion. Due to high investor demand, the company tripled the individual sale cap to $30 million, with about 75 employees selling the maximum amount. This event represents the largest such transaction in tech industry history for a private company. OpenAI's valuation was $500 billion for this tender offer. Employees with over two years of tenure were eligible, allowing many post-ChatGPT hires their first liquidity event. The company's stock has reportedly grown over 100-fold in seven years. Following a restructuring, employees collectively hold about 26% of OpenAI. The scale of executive wealth is also staggering. In court testimony related to Elon Musk's lawsuit, President and co-founder Greg Brockman confirmed his OpenAI stake is worth around $30 billion. Analysis indicates about 165 current and former employees hold a combined ~$164.9 billion in equity, averaging nearly $1 billion per person in paper wealth. OpenAI's per-employee stock-based compensation is estimated to be 34 times the average of major tech firms before their IPOs. OpenAI continues its rapid ascent, closing a $122 billion funding round at an $852 billion valuation in March. With monthly revenue hitting $2 billion, over 900 million weekly ChatGPT users, and plans for a potential trillion-dollar IPO in late 2026, this wealth-creation engine shows no signs of stopping.

链捕手18 мин. назад

OpenAI's Largest Internal Wealth Creation: 600 People Cash Out a Total of $6.6 Billion, 75 Take Home the Maximum $30 Million Each

链捕手18 мин. назад

An In-Depth Analysis of the Reasons Behind the Recent Surge in the Memory Storage Industry

"Understanding the Recent Boom in the Memory Industry" summarizes the key structural shift in the memory sector driven by AI. Traditionally, the memory industry (DRAM, NAND) has been highly cyclical, with prices driven by inventory cycles and consumer electronics demand, which can be deferred. However, AI has fundamentally changed the demand structure. AI workloads create continuous, non-deferrable demand for high-bandwidth memory (HBM) due to GPU memory bottlenecks. This high-margin HBM production is prioritized by major manufacturers like Samsung, SK hynix, and Micron, structurally reducing the supply of traditional DRAM and NAND. Consequently, the market is transitioning from a spot-based model to a contract-based allocation system. HBM supply is reportedly booked through 2026, leading to spot shortages and sharp price increases for other memory types. Delivery lead times have also extended dramatically. Pricing power is shifting from the open market to those with long-term contracts. Primary beneficiaries are HBM-leading suppliers and large hyperscalers (Microsoft, AWS, Google) that can lock in future supply. Key risks to this "AI supercycle" include a potential slowdown in AI capital expenditure, disruptive new memory architectures, or a return to aggressive industry capacity expansion, which could reintroduce cyclicality.

marsbit21 мин. назад

An In-Depth Analysis of the Reasons Behind the Recent Surge in the Memory Storage Industry

marsbit21 мин. назад

BlackRock Expands Tokenized Finance Push With New Treasury Fund Filings

BlackRock, the world's largest asset manager, has intensified its push into tokenized finance by filing with the SEC to create a new fund. Named the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, the proposed fund would invest in cash, U.S. Treasuries, and repurchase agreements. It would issue "OnChain Shares" using a permissioned system linked to public blockchains, with Securitize Transfer Agent LLC maintaining ownership records. In a separate move, BlackRock also filed to establish an onchain share class for its existing BlackRock Select Treasury Based Liquidity Fund. For this, the transfer agent BNY Mellon outlined plans to use Ethereum's ERC-20 standards, combining blockchain data with offchain identification. These filings represent a significant expansion into tokenization, the process of creating digital tokens for traditional assets like funds. Advocates believe this technology can enhance transparency, enable 24/7 trading, and speed up settlement times.

TheNewsCrypto40 мин. назад

BlackRock Expands Tokenized Finance Push With New Treasury Fund Filings

TheNewsCrypto40 мин. назад

Understanding CPO (Co-Packaged Optics) in One Article: Why Nvidia Is Willing to Spend $3.2 Billion on a Fiber?

NVIDIA and Corning announced a multi-year strategic partnership on May 6, 2026, with NVIDIA committing up to $3.2 billion to support Corning's U.S. expansion. This investment will triple Corning's manufacturing plants and significantly boost its optical fiber and communications production capacity. The core driver behind this massive investment is the fundamental shift from copper to optical interconnect technology within AI data centers. As GPU clusters scale, copper wires face critical limitations: severe signal attenuation over distance, high energy consumption for signal integrity, and excessive heat generation. Optical fiber, transmitting light instead of electrical signals, solves these issues with minimal loss, near-light speed, and lower power needs. The article outlines a three-stage evolution of data center interconnect: 1. **Traditional Copper Interconnects:** The mainstream solution of the 2010s, now being phased out due to scaling bottlenecks. 2. **Pluggable Optical Modules:** The current mainstream, where modules convert electrical signals to light externally. This process still introduces energy loss and latency. 3. **CPO (Co-Packaged Optics):** The next-generation technology where the optical engine is integrated directly with the GPU chip package. This drastically reduces the electrical signal travel distance to mere millimeters, slashing power consumption and latency while boosting data density. NVIDIA CEO Jensen Huang has identified CPO as an essential core technology for AI infrastructure. NVIDIA's investment signifies a strategic shift from being a buyer to actively controlling its supply chain for critical components. With demand for specialized optical fiber far outstripping supply—evidenced by soaring prices—securing long-term manufacturing capacity has become a competitive necessity. While Corning's expansion may pressure some suppliers, a projected global fiber supply gap of 5-15% over the next few years creates a significant opportunity window, particularly for Chinese manufacturers competitive in optical preforms, chips, and modules. Ultimately, NVIDIA's move is not about chasing a trend but an engineering imperative. The transition to light-based interconnects like CPO is driven by the physical limits of copper, marking a definitive step in the ongoing AI computing revolution.

marsbit43 мин. назад

Understanding CPO (Co-Packaged Optics) in One Article: Why Nvidia Is Willing to Spend $3.2 Billion on a Fiber?

marsbit43 мин. назад

KOL's Perspective: Why Is SOL Set to Rise from This Point?

**Summary: Why SOL is Positioned for Growth at This Level** The article argues that SOL is poised for an upward move from its current price point, citing several key factors. Primarily, SOL has just broken out of a 4-month consolidation phase. This breakout signals a return of risk appetite to the broader crypto market, as SOL is seen as a key indicator of overall crypto health. The token's ownership has reportedly shifted from short-term traders and tourists to long-term accumulators, leading to low volume. Any meaningful increase in trading activity could thus trigger significant upward momentum. Fundamental strengths include strong institutional adoption, integration with DeFi and RWAs (Real-World Assets), and the potential benefits from the Clarity Act. Despite its high volatility—having dropped 70% from its all-time high but still up 12x from its bear market low—SOL is highlighted as one of the few tokens from the last cycle to reach new highs. It boasts a robust ecosystem of applications, users, and protocols. Future catalysts include the expected influx of AI developers following the Miami Accelerate conference, which focused on AI on Solana. Furthermore, Solana is positioned as the premier chain for memecoin activity, a trend expected to continue and drive network usage and fees. The article concludes that recent price action reflects a healthy transfer to long-term holders, setting the stage for growth.

marsbit1 ч. назад

KOL's Perspective: Why Is SOL Set to Rise from This Point?