#香港拟年内再推虚拟资产指引 Hong Kong Crypto Scene "Breaking the Ice"! After 8 months, the SFC issues a license again, and the 12th licensed exchange VDX appears!

After more than 250 days of dormancy, the Hong Kong Securities and Futures Commission (SFC) finally pressed the "accelerate" button today!
On February 17, the official website of the Hong Kong Securities and Futures Commission updated the list of licensed Virtual Asset Trading Platforms (VATP): Victory Fintech Company Limited (VDX) has officially been approved!
This not only means that Hong Kong has welcomed its 12th compliant crypto exchange, but also sends a major signal to the industry: the approval "silent period" since June 2025 has come to an end, and Hong Kong's virtual asset market has officially entered a new era of normalized expansion.

Why now? What has the regulator been busy with during these 8 months?
Many ask: Why has it taken so long?
Actually, the regulator's "silence" is not stagnation but part of a larger strategic plan. Over the past 8 months, the SFC has completed three key phases of "clearing and laying the foundation":
Major cleanup: Fully ending the transition period, removing non-compliant entities, and cleaning up the market environment.
Addressing gaps: The "Stablecoin Regulations" have been implemented, creating a complete regulatory loop covering trading, custody, asset management, and stablecoins.
Laying the groundwork: The Chief Executive has officially announced that the first stablecoin licenses will be issued by March 2026. Currently, there are 36 applications in hand, progressing steadily.

What makes VDX stand out? "Traditional finance + crypto DNA" becomes the standard

As the first platform to be approved in this round of opening, VDX (Victory Fintech) has a formidable background. It is backed by a financially strong listed financial services group and possesses deep traditional financial compliance DNA.
Under the nearly stringent review of the SFC, VDX’s approval not only proves its strength but also defines the future direction of licensed platforms in Hong Kong: high-standard risk control, institutionalized operation, and a deep integration of traditional and crypto sectors.

Four major signals of a compliance boom:
This "opening the floodgates" marks a shift in Hong Kong’s strategy from "laying the foundation" to "building skyscrapers" as a global digital asset hub:

Major attitude shift: Regulation has shifted from "cautious tightening" to "orderly opening." Not seeking quantity, but quality. Institutional access: The interconnection between licensed brokers and licensed exchanges will accelerate, removing worries about large capital inflows.
Regulatory benefits: With 12 platforms including HashKey, OSL, Bullish, and VDX forming a strong lineup, unlicensed platforms will face extreme pressure to survive.
Institutional advantages: In the global regulatory race, Hong Kong, with its "certainty," is attracting global capital to return to Asia.

Looking ahead: A new starting point with triple resonance

Next, Hong Kong’s virtual asset market will experience a triple resonance of institutionalization, scaling, and compliance.
With the issuance of stablecoin licenses and expansion of trading tools, this is not only a reinforcement after regulatory groundwork but also the best time for global capital to deploy in Asia’s digital assets.

The 12 platforms are just the beginning. Hong Kong’s ambition is never just to be a "crypto safe haven," but to become the "command center" for global digital assets. Compliance is the only ticket for the long-term race.