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 Hong Kong accepts crypto license application past deadline

The Hong Kong Securities and Futures Commission (SFC) has granted a new digital asset exchange license to Hong Kong Digital Asset Xchange (HKDAEx) despite the May 31 deadline having passed.
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 The licensing regime was established to regulate virtual asset service providers (VASPs) in Hong Kong, requiring all crypto exchanges to submit their applications by February 29, 2024, to continue operations legally. Those that failed to do so were mandated to cease operations by May 31, 2024 . While some firms received preliminary approvals, they had not yet been fully licensed by the deadline 
 The licensing regime was established to regulate virtual asset service providers (VASPs) in Hong Kong, requiring all crypto exchanges to submit their applications by February 29, 2024, to continue operations legally. Those that failed to do so were mandated to cease operations by May 31, 2024 . While some firms received preliminary approvals, they had not yet been fully licensed by the deadline