Hong Kong virtual asset trading approval

Key Points:* Hafu Securities gains SFC approval for virtual asset trading.

• Facilitates regulated crypto trading in Hong Kong.
• Potential increase in BTC and ETH trading volumes. Hafu Receives SFC Approval, Advancing Hong Kong’s Crypto Strategy

Hafu Securities, a subsidiary of Dongfang Caifu, has received approval from the Hong Kong Securities and Futures Commission (SFC) as of June 2024, to provide virtual asset trading services through an integrated account arrangement.

Hafu Receives SFC Approval, Advancing Hong Kong’s Crypto Strategy

Hafu Securities, a subsidiary of Dongfang Caifu, has received approval from the Hong Kong Securities and Futures Commission (SFC) as of June 2024, to provide virtual asset trading services through an integrated account arrangement.

This approval allows Hafu Securities to engage in regulated cryptocurrency trading, aligning with Hong Kong’s strategy to position itself as a leading crypto hub.

“Under the proposals, any person who carries on business of dealing in VAs in Hong Kong, regardless of whether through a physical outlet and/or other platform, or who provides VA custodian services will have to be licensed or registered with the SFC, subject to a fit-and-proper test and other factors deemed relevant by the SFC.” – Hong Kong SFC, Regulatory Authority.

Market reactions have been muted, with no notable statements from major crypto influencers like Arthur Hayes or Changpeng Zhao. The regulatory move, however, underscores Hong Kong’s commitment to being at the forefront of digital asset innovation and compliance, drawing cautious optimism from industry stakeholders regarding future institutional participation.

Bitcoin Surges Amid Regulatory Advancements, Priced at $117,677

Did you know? Hong Kong’s approach to integrating virtual asset trading within regulatory frameworks echoes previous efforts seen in other financial hubs, solidifying its position as a global crypto capital.

Bitcoin’s current price is reported at $117,677.67, with a market cap of $2.34 trillion and market dominance of 63.64%, according to CoinMarketCap. Recent trading has shown a 1.48% increase in 24 hours and an 8.95% rise over seven days. The circulating supply is recorded at 19,891,125, out of a max of 21 million, with a 24-hour volume of $83.71 billion, registering a decline of 14.42%.

Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 02:00 UTC on July 12, 2025. Source: CoinMarketCap Coincu research indicates that regulatory advancements such as those in Hong Kong could reverberate throughout the global crypto ecosystem. By setting a precedent for compliance in virtual asset trading, these initiatives may stimulate further technological integration and financial services innovation.

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