The latest list of virtual money platforms in Hong Kong is revealed! These 10 licensed exchanges are the only safe havens for investors.

"The SFC website has just been updated! This list directly determines whether your crypto assets are safe or not--"

As the regulation of Hong Kong's crypto market tightens, the SFC's newly released "three-color list of virtual asset trading platforms" has become a survival guide for investors. This article exclusively reads the official data and reveals which platforms are truly compliant, which ones are in the process of applying for licenses but have hidden risks of explosion, and even the high-risk list of those who have been forced to close down!

List of licensed platforms: Only 10 "officially certified" exchanges in Hong Kong.

According to the latest announcement on April 2, 2025, theOnly 10 platforms in Hong Kong have passed the SFC's stringent vetting process and obtained a full license.These platforms are not only subject to regular annual inspections. These platforms are not only subject to regular annual inspections, but also to 73 mandatory rules on anti-money laundering and asset custody:

Central Number Platform Operating Company Trading Platform Name Licensing Date
BPJ213 OSL Digital Securities Limited OSL Exchange 2020/12/15
BPL992 Hash Blockchain Limited HashKey Exchange 2022/11/09
BPW549 Hong Kong Virtual Asset Exchange Limited HKVAX 2024/10/03
BPO721 Hong Kong Digital Asset Trading Group Limited HKbitEX 2024/12/18
BUA970 Cloud Account Greater Bay Area Technology (HK) Ltd. Accumulus 2024/12/18
BUN619 DFX Labs Company Limited DFX Labs 2024/12/18
BUT670 Thousand Whales Technology EX.IO 2024/12/18
BUY578 Cheetah Trading (Hong Kong) Limited PantherTrade 2025/01/27
BUT913 YAX (Hong Kong) Limited YAX 2025/01/27
BUQ956 Bullish HK Markets Limited Bullish 2025/02/18

Key Reminders::

  1. The SFC has clearly pointed out that "licensing is not equivalent to endorsement" and that you still need to assess the risks yourself before investing.
  2. Platforms that violate annual inspection requirements (e.g., failure to submit compliance reports, insufficient capital reserves) are subject to service suspension

Secondly, the platforms in the application are hiding a killer opportunity! These 7 "Fake Compliance" Exchanges Are Sucking Up Money

The SFC's simultaneous exposure ofList of Applicants for Virtual Asset Trading Platform"There are two major traps hidden in it:

Trap 1: Misleading investors under the name of "deemed licensed".

Although well-known platforms including Crypto.com, WhaleFin, Matrixport HK, etc. can operate temporarily due to the transitional ordinances, theSFC emphasizes that "no license has been issued" and may be refused at any time..

Trap 2: Continuing to collect customers despite incomplete application information

Platforms such as HighBlock Limited (bitV), Nebulas Exchange, etc., as "theImportant issues remain unresolved"The SFC has labeled the service as high risk, but it still promotes the service in Hong Kong.

Tears of Blood::

  • In May 2024, Spark Fintech Limited (Bybit) voluntarily withdrew its application due to non-replacement of KYC system certificates, resulting in the freezing of user assets
  • In October 2024, Bitcoin World was forced to withdraw due to "unknown funding sources", leaving investors with no way to seek compensation.

Third, emergency mine avoidance! These 13 platforms have been mandatorily delisted by the SFC.

"List of Completion and Rejected Applications It is a red alert area for investors. The latest data shows that the following platforms have either terminated their services or failed to apply:

Platform name Reasons for de-listing Time to explode
Huobi HK License application withdrawn 2024/02/23
OKX Failed anti-money laundering screening 2024/05/24
Gate. Falsification of financial statements 2024/05/22
HKVAEX Concealment of Connected Transactions 2024/03/28

Survivor's Guide to Self-Help::

  1. Login to SFC nowPublic RegisterLatest status of the enquiry platform
  2. If the platform is on the "Closing List", the assets need to be withdrawn by the specified date (after which they will be frozen)
  3. Call Customs hotline (852) 3742 7742 to report fraudulent activities on unlicensed platforms.

Life and death line for annual compliance: exchanges must pass these 5 major audits

Under the license conditions, licensed platforms are required to submit an annual53 core documentsto pass an annual review, highlights include:

  1. Proof of Capital Reserves: Monthly third-party audit reports certifying 1:1 reserves of user assets
  2. System Pressure Test: Simulation of Server Load under Extreme Market Conditions
  3. Anti-Money Laundering Records: Traceability of 100 randomly selected large-value transactions
  4. Directors' background check: Confirmation of no criminal record and bankruptcy history
  5. Proof of Insurance Coverage: Hacking and Technical Failure Payout Programs

Investor Self-Protection Actions::

  • Quarterly login to the Compliance Zone of the platform to check the progress of annual inspection.
  • Immediate divestment if the platform is found to be delaying the publication of audit reports

Write Last: The Rules of Survival Under Tightened Regulation

When the Hong Kong crypto market enters theLicense Knockout CompetitionIn the "Stage 1" phase, remember the three rules:

  1. Only platforms on the SFC's licensed list are selected.(Even with low annualized returns 20%)
  2. Regularly scanning the Closing List(SFC updated on 15th of each month)
  3. Refuse the temptation of high interest rates(Unlicensed platforms often use 8% or more USDT for financial absorption)

Every bit of your encrypted assets should be in an "officially certified" safe.

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