The Securities and Futures Commission (SFC) of Hong Kong maintains several official lists to inform the public about the regulatory status of Virtual Asset Trading Platforms (VATPs). These lists are essential for investors seeking to understand which platforms are licensed, which have applications pending, and which have had their applications withdrawn or rejected.
This guide provides a clear overview of these lists and their implications for your investment decisions.
The SFC's Licensed Virtual Asset Trading Platform List
This list contains the names of Virtual Asset Trading Platform operators that have been formally licensed by the SFC. It is the primary resource for investors looking for a regulated platform to use.
It is crucial to understand that the SFC's publication of this list does not constitute a guarantee of the performance or creditworthiness of any licensed platform. Investors must always conduct their own due diligence.
The following table presents the current list of SFC-licensed VATPs. For more details on any platform, you can click the central registration number link or consult the SFC's Public Register.
| Central Number | Company Name (English) | Company Name (Chinese) | Trading Platform | Licensing Date |
|---|---|---|---|---|
| BPJ213 | OSL Digital Securities Limited | OSL數字證券有限公司 | OSL Exchange | 15/12/2020 |
| BPL992 | Hash Blockchain Limited | Hash Blockchain Limited | HashKey Exchange | 09/11/2022 |
| BPW549 | Hong Kong Virtual Asset Exchange Limited | 香港虛擬資產交易所有限公司 | HKVAX | 03/10/2024 |
| BPO721 | Hong Kong Digital Asset EX Limited | 香港數字資產交易集團有限公司 | HKbitEX | 18/12/2024 |
| BUA970 | Accumulus GBA Technology (Hongkong) Co., Limited | 雲賬戶大灣區科技(香港)有限公司 | Accumulus | 18/12/2024 |
| BUN619 | DFX Labs Company Limited | Not Applicable | DFX Labs | 18/12/2024 |
| BUT670 | EXIO Limited | Not Applicable | EX.IO | 18/12/2024 |
| BUY578 | Panthertrade (Hong Kong) Limited | 猎豹交易（香港）有限公司 | PantherTrade | 27/01/2025 |
| BUT913 | YAX (Hong Kong) Limited | Not Applicable | YAX | 27/01/2025 |
| BUQ956 | Bullish HK Markets Limited | Not Applicable | Bullish | 18/02/2025 |
| BSI739 | Hong Kong BGE Limited | Not Applicable | BGE | 17/06/2025 |
The VATP Applicant List
This list includes the names of operators whose license applications have not yet been approved by the SFC. It also includes those applicants who were "deemed-to-be-licensed" under a transitional arrangement that ended on June 1, 2024.
Critical Warning: All platforms on this list are NOT licensed by the SFC and may not be compliant with the SFC's requirements. The SFC has NOT formally licensed the deemed-to-be-licensed applicants.
The purpose of this list is to help the public identify if a VATP is making false or misleading claims about its license application status with the SFC.
Investors are strongly advised to only use platforms from the licensed list above. The SFC warns investors of the significant risks of trading on unregulated platforms, including those on this applicant list or overseas VATPs, as they may be required to shut down their Hong Kong operations.
Virtual Asset Trading Platform Applicant List
| Company Name (English) | Company Name (Chinese) | Trading Platform | Application Submission Date* |
|---|---|---|---|
| Victory Fintech Company Limited | 勝利數碼科技有限公司 | VDX | Not Applicable# |
| NewBX Limited^ | Not Applicable | Bixin.com | 24/01/2024 |
| HighBlock Limited | Not Applicable | bitV | 06/02/2024 |
| Foris DAX HK Limited^ | Not Applicable | Crypto.com | 09/02/2024 |
| Whalefin Markets Limited^ | Not Applicable | WhaleFin | 21/02/2024 |
| Flying Hippo Technologies Limited^ | Not Applicable | Matrixport HK | 26/02/2024 |
| Nebulas Hong Kong Limited | Not Applicable | Nebulas Exchange | 25/10/2024 |
| Spark Fintech Limited | Not Applicable | Bybit | 06/06/2025 |
| Bitcoin World Technology Limited | Not Applicable | Bitcoin World | 10/06/2025 |
| Spread Technologies Hong Kong Limited | Not Applicable | BitMart | 27/06/2025 |
*Incomplete applications or those with unresolved material issues may be returned by the SFC.
Applicant under the previous voluntary opt-in regime.
^Applicant deemed-to-be-licensed. For details, consult the SFC's Public Register.
Important Notes for Investors on the Applicant List
- The list is updated periodically, meaning the information may not be current at the time you read it. Application statuses can change.
- Inclusion does not guarantee a license. An applicant's name can be removed if their application is returned, rejected, or withdrawn.
- If an applicant is formally licensed, their name will be moved to the licensed list.
- The SFC's decision to reject an application may not be immediately reflected on the list.
Risks of using unregulated platforms include:
- Total Loss of Assets: If the platform ceases operations, goes bankrupt, is hacked, or misappropriates assets, you could lose your entire investment held on that platform.
- No Legal Recourse: It may be extremely difficult to pursue legal action or obtain compensation from a platform that has no connection to Hong Kong.
List of Applicants with Returned, Rejected, or Withdrawn Applications
This list contains the names of VATP applicants that have been removed from the applicant list because their application was returned by the SFC, rejected, or voluntarily withdrawn by the company.
An applicant's name is added here if:
- Their application was returned for being incomplete or having unresolved material issues.
- Their application was rejected by the SFC or withdrawn by the applicant.
Applicants with Returned, Rejected, or Withdrawn Applications
| Company Name (English) | Company Name (Chinese) | Trading Platform | App Submission Date | Removal Date | Reason for Removal |
|---|---|---|---|---|---|
| AMMBR (HK) LIMITED | Not Applicable | Ammbr | 29/09/2023 | 06/10/2023 | Withdrawn |
| BitHarbour (Hong Kong) Limited | 幣風港(香港)有限公司 | BitHarbour | 11/01/2024 | 29/01/2024 | Withdrawn |
| Meex Digital Securities Limited | Not Applicable | Meex | 12/10/2023 | 07/02/2024 | Returned |
| HBGL Hong Kong Limited | Not Applicable | Huobi HK | 20/02/2024 | 23/02/2024 | Withdrawn |
| BX SERVICES LIMITED | Not Applicable | HKVAEX | 04/01/2024 | 28/03/2024 | Withdrawn |
| OKX Hong Kong FinTech Company Limited | Not Applicable | OKX | 16/11/2023 | 24/05/2024 | Withdrawn |
| Spark Fintech Limited | Not Applicable | Bybit | 31/01/2024 | 31/05/2024 | Withdrawn |
| Bitcoin World Technology Limited | Not Applicable | bitcoinworld | 17/05/2024 | 10/10/2024 | Returned |
List of Virtual Asset Trading Platforms Required to Close Down
This list names VATP operators that are required by law to wind down their businesses within a specified period.
During this wind-down period, these operators are not allowed to provide any virtual asset trading services, except for acts purely for the purpose of closing their business. They are also required to cease all marketing activities targeted at Hong Kong investors.
Investors are again urged to only use platforms from the licensed list and to be aware of the severe risks of trading on a platform that is closing. As of the latest update, this list is empty.
Frequently Asked Questions
Why does the SFC publish these lists?
The SFC publishes these lists to promote transparency and protect investors. They allow the public to verify the regulatory status of any platform claiming to operate in or serve investors in Hong Kong, helping to prevent fraud and misleading claims.
What is the safest type of platform to use?
The safest option is to only use a platform that appears on the SFC's Licensed Virtual Asset Trading Platform List. These platforms are subject to the SFC's regulatory oversight and must comply with strict rules designed to protect investors and their assets.
What does "deemed-to-be-licensed" mean?
This was a transitional status for existing platforms that applied for a license before a regulatory deadline. It allowed them to continue operating while their application was reviewed. However, this status has ended. Any platform still claiming this status without a formal license is not compliant. 👉 Explore more strategies for identifying legitimate trading platforms.
What should I do if I'm using a platform on the applicant list?
You should be extremely cautious. Understand that the platform is not yet licensed and may never become licensed. You should consider moving your assets to a fully licensed platform to ensure you are protected by the SFC's regulations.
How often are these lists updated?
The SFC updates the lists periodically, but the exact schedule is not specified. The regulatory status of an applicant can change at any time, so it is important to check the SFC's website for the most current information.
Where can I report a suspicious platform?
The SFC also maintains an alert list for suspicious virtual asset trading platforms. If you encounter a platform you believe is operating fraudulently or making false claims about its licensing, you should report it to the SFC.
Last Update Date: June 17, 2025. The information in this article is based on the SFC's official publication and is intended for informational purposes only. It does not constitute financial or legal advice.