PANews reported on January 16 that according to the official website, the Hong Kong Securities and Futures Commission announced today that all new applicants for virtual asset trading platform licenses can apply for licenses according to the SFC's fast-track licensing procedures. The new licensing method requires virtual asset trading platform applicants to first implement internal policies, procedures, systems and measures, and conduct external assessments of relevant measures. The SFC becomes a monitoring participant and oversees the entire external assessment process.

The SFC has issued a circular today to provide guidance to new virtual asset trading platforms. The SFC has also published the results of its risk-related on-site inspections, further clarifying the regulatory standards that the SFC expects virtual asset trading platforms to meet.