May 25, 2026
By Shubhii Verma
Hong Kong has granted its 13th virtual asset trading platform licence, further strengthening the city’s push to become a leading regulated cryptocurrency hub in Asia. The latest approval was awarded to NewBX Limited, the operator behind crypto exchange Bixin, by Hong Kong’s Securities and Futures Commission (SFC).
NewBX Secures Full Regulatory Approval Under Hong Kong’s Framework
The licence allows NewBX to carry out regulated activities under Hong Kong’s financial framework, including dealing in securities and providing automated trading services. It also permits the company to operate a virtual asset exchange under the city’s Anti-Money Laundering and Counter-Terrorist Financing regulations. This dual-licensing system is mandatory for all crypto trading platforms serving investors in Hong Kong.
NewBX is a subsidiary of Bixin Group, a crypto company with roots tracing back to mainland China. The group originally launched in 2014 under the name HaoBTC, becoming one of Asia’s early Bitcoin trading platforms before rebranding to Bixin. Over the years, the company expanded beyond exchange services into crypto mining, hardware wallets, custody solutions, and venture investments.
SFC Review Process Ends After Temporary Operating Status
The company submitted its licence application in January 2024 and had been operating under a temporary “deemed licensed” arrangement since June 2024 while the SFC reviewed its application. With the official approval now granted, NewBX joins a growing list of regulated crypto exchanges operating legally in Hong Kong.
Other licensed platforms in the city include OSL Digital Securities, HashKey Exchange, Bullish, Victory Fintech’s VDX platform, PantherTrade, and YAX, which is operated by Tiger Brokers. According to regulators, six additional crypto exchange applications are still under review.
Why Hong Kong Introduced Mandatory Crypto Licensing Rules
Hong Kong introduced its mandatory virtual asset trading platform licensing regime in 2023 as part of a broader effort to establish itself as a trusted digital asset center in Asia. The framework was created in response to major crypto industry failures and growing concerns about investor protection and regulatory gaps in global markets.
Under the rules, any exchange serving retail investors in Hong Kong must obtain an SFC licence and comply with strict requirements covering anti-money laundering standards, custody practices, compliance procedures, and investor safeguards.
While the city has moved cautiously in approving applications, officials believe the measured approach helps improve credibility and trust in the market. Some applicants have remained under review for more than a year, showing that regulators are prioritizing compliance and long-term stability over rapid expansion. With more applications still pending, Hong Kong’s regulated crypto ecosystem is expected to continue growing steadily.
