**Hong Kong SFC Adds Victory Fintech to Licensed Virtual Asset Trading Platform List** On February 17, the Securities and Futures Commission (SFC) of Hong Kong announced Victory Fintech Company Limited has been added to its official roster of licensed virtual asset trading platforms. The regulator’s website now lists 12 licensed crypto and blockchain-related institutions — marking the first new crypto exchange license approval since Hong Kong’s BGE was greenlit in June 2025. Since June 2024, Hong Kong authorities have criminalized operating unlicensed virtual asset trading platforms, pushing several exchanges out of the market. Exchanges including OKX and Bybit have also withdrawn their license applications. Additionally, Hong Kong’s Secretary for Financial Services and the Treasury Christopher Hui previously noted regulators plan to submit a legislative proposal on cryptocurrency asset service providers in 2026. While the SFC has licensed 12 firms, the Hong Kong Monetary Authority (HKMA) has yet to name any licensed stablecoin issuers. Notably, the SFC recently issued guidelines allowing licensed brokers to offer virtual asset margin financing, initially accepting Bitcoin (BTC) and Ethereum (ETH) as collateral. The regulator also released a framework permitting exchanges to provide perpetual contract trading to professional investors.
