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Hong Kong to Disclose All Crypto License Applicants After JPEX Probe
Securities and Futures Commission says decision was made in light of public demand
Updated Sep 25, 2023, 4:36 p.m. Published Sep 25, 2023, 6:33 a.m.
Hong Kong’s securities watchdog, the Securities and Futures Commission (SFC) said that it’s going to publish a list of crypto exchange license applicants in the wake of the JPEX probe, which has led to multiple arrests in the territory.
“The JPEX incident highlights the risks of dealing with unregulated virtual asset trading platforms (VATPs) and the need for proper regulation to maintain market confidence,” the SFC said in a statement Monday. “It also shows that dissemination of information to the investing public through the Alert List, warnings and investor education can be further enhanced to help members of the investing public better understand the potential risks entailed by suspicious websites or VATPs.”
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Last week, Hong Kong's Chief Executive, John Lee, emphasized the necessity for crypto platforms to be licensed by the SFC to protect investors.
“We will be doing more public education for investors to know the risks,” he said at the time.
Only OSL Digital Securities Limited and Hash Blockchain Limited have been awarded licenses.
According to the SCMP, four other companies have applied for licenses – HKVAX, HKBitEx, Hong Kong BGE Limited, and Victory Fintech Company Limited – but these are relatively small and unknown. Many major crypto exchanges have not signaled their intent to become licensed in Hong Kong.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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40% of Canadian Crypto Users Flagged for Tax Evasion Risk, Canadian Tax Authority Reveals
Canada’s tax agency says legal gaps limit its ability to track crypto-related income as it recovers $100 million through audits and pushes for tighter regulation.
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- The Canadian Revenue Agency reports that 40% of crypto platform users are evading taxes or are at high risk of non-compliance.
- CRA's cryptoasset program has 35 auditors working on over 230 files, resulting in $100 million in taxes collected over three years.
- New legislation to combat financial crimes, including crypto tax evasion, is expected by Spring 2026, as announced by the Minister of Finance.
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