One article to find out that XRP is excluded from the Hong Kong Securities Regulatory Commission's cryptocurrency trading license list
- DDDOriginal
- 2025-03-05 08:21:01288browse
The Hong Kong Securities Regulatory Commission (SFC) unexpectedly missed XRP in the list of cryptocurrency trading licenses recently released, which attracted market attention. Although XRP has been recognized by many regulators around the world and expects the launch of Grayscale ETF and CME XRP futures products to be soon, this decision by Hong Kong regulators casts a shadow on XRP's future development in Hong Kong.
AVAX and LINK were approved, but XRP was rejected
SFC approved the operating licenses for two local exchanges, Panther Trade and YAX, on January 27, the first batch of approved cryptocurrency exchanges in 2025. Cryptocurrencies approved for trading include Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX) and Chainlink (LINK), while XRP is excluded. This decision is puzzling, especially considering the wide global circulation of XRP and its partnerships with multiple universities. It is worth noting that Solana is not on the list either. The approval speed of AVAX and LINK even exceeded XRP, adding to the confusion of this decision.
Strict anti-money laundering regulations
Hong Kong licensed exchanges must strictly abide by SFC's anti-money laundering (AML) and anti-terrorism financing (CTF) regulations. Currently, ten cryptocurrency exchanges have completed registration and have been approved to operate a virtual asset trading platform in Hong Kong.
SFC originally planned to approve 11 trading platforms by the end of 2024, but due to strict compliance review, the approval time has been delayed. In December 2024, four platforms were licensed and regulators will continue to work with exchanges to ensure they comply with financial audit standards.
SFC has not publicly explained the reasons for excluding XRP, but may be related to the ongoing legal disputes Ripple faces around the world.
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