Hong Kong’s Securities and Futures Commission (SFC) has licensed Victory Fintech Company Limited, marking the first crypto company approved since June 2025. The SFC now has 12 licensed virtual asset trading platforms, with Victory being the latest addition. Previously, Hong Kong had cracked down on unlicensed crypto exchanges, leading to shutdowns and withdrawals.

Following the approval of Victory Fintech, the SFC announced that licensed brokers can now provide virtual asset margin financing, allowing Bitcoin (BTC) and Ether (ETH) as collateral. The SFC also introduced a framework for trading platforms to offer perpetual contracts to professional investors. This move comes as Hong Kong regulators plan to draft an ordinance for crypto advisory services in 2026.

Read more at Coin Telegraph: Fintech Company Secures Regulatory Approval in HK