Hong Kong's evolving regulatory landscape for digital assets has driven significant market movements, highlighted by an 18% share price increase in OSL, a licensed cryptocurrency exchange. OSL reached a one-year high following the Hong Kong Securities and Futures Commission's (SFC) approval of a virtual asset license for Guotai Junan International, marking the first time a Chinese brokerage in Hong Kong has received such approval for virtual asset trading services.
Guotai Junan International's share price surged over 200% after securing the upgraded Type 1 license, enabling it to offer comprehensive virtual asset advisory and trading services, including Bitcoin (BTC) and Ethereum (ETH). This milestone expands institutional and retail access to regulated cryptocurrency trading platforms in Hong Kong and underscores the city's ambition to become a global digital asset hub.
The native token of the HashKey exchange, HSK, also rose more than 50% amid growing institutional activity, reflecting increased investor confidence in regulated crypto exchanges under Hong Kong's clear licensing framework. Approximately 40 brokerage firms, including Tiger Brokers and Thousand Whales Technology, have upgraded their licenses, signaling a wave of institutional engagement and broader acceptance of digital assets in the regional market.
These regulatory developments and market responses indicate a positive shift towards integrating traditional finance with digital assets, encouraging capital diversification and expanding Hong Kong's influence in the global crypto ecosystem.