The licence, issued on Monday, allowed CMBI to engage in a variety of virtual asset services, including trading, custody and advisory services. In addition, it can provide guidance on risk management, regulatory compliance and investment strategies.
“By securing this licence, CMBI gains regulated access to Hong Kong’s dynamic crypto market, yet it must operate within strict boundaries that prevent direct mainland participation, reflecting the delicate balance of innovation and legal constraint,” said Joshua Chu, a lawyer and co-chair of the Hong Kong Web3 Association.
The city’s crypto moves came in response to a growing acceptance of digital assets by traditional financial institutions and the expansion of the surrounding industry. Mainland brokers with international operations have been ramping up efforts to acquire virtual asset licences in Hong Kong in an effort to serve more global investors.
