Ripple’s XRP fails to make Hong Kong’s regulatory-approved crypto list, raising concerns about its legal standing in the region.
XRP Absent from Hong Kong’s Approved Crypto List
Hong Kong’s Securities and Futures Commission (SFC) has granted trading licenses to two local exchanges, PantherTrade and YAX, marking the first approvals of 2025. However, while Bitcoin, Ethereum, Avalanche, and Chainlink were approved for trading, XRP was notably absent, raising concerns about its regulatory status in the region.
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Ripple’s Expanding Global Adoption
Despite Hong Kong’s exclusion, XRP continues to gain global recognition, with growing speculation around a Grayscale XRP ETF and the potential launch of CME XRP futures. Many investors and analysts had anticipated XRP’s inclusion in Hong Kong’s list, considering its increasing institutional adoption.
Hong Kong’s Strict Crypto Regulations
The SFC has imposed rigorous compliance standards on exchanges, including adherence to anti-money laundering (AML) and counter-terrorist financing (CTF) laws. So far, 10 crypto exchanges have registered under these regulations, meeting Hong Kong’s requirements for operating virtual asset trading platforms.
Delays in Crypto Licensing Approvals
Initially, the SFC planned to approve 11 trading platforms by the end of 2024 but faced delays due to thorough compliance checks. In December 2024, only four virtual asset trading platforms secured licenses, highlighting the regulator’s strict approach toward approving crypto-related businesses.
Unclear Reasons for XRP’s Exclusion
The SFC has not provided a direct explanation for excluding XRP from its approved crypto list. Some experts speculate that Ripple’s ongoing legal challenges in multiple jurisdictions may have influenced the decision. However, no official statement has been made regarding XRP’s omission.
Regulatory Uncertainty Clouds XRP’s Future in Hong Kong
With XRP missing from the approved list, its future in Hong Kong remains uncertain. While Ripple continues pushing for broader institutional adoption, Hong Kong’s caution toward the asset highlights the region’s conservative regulatory stance on crypto assets facing legal scrutiny.
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Hong Kong Excludes XRP from Approved Crypto Trading List
