The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120btc.COM) News: The Hong Kong government is committed to promoting Hong Kong as a cryptocurrency center. Since November 2022, the Hong Kong Financial Services and the Treasury Bureau (FSTB) has officially released the "Policy Declaration on the Development of Virtual Assets in Hong Kong", revealing for the first time Hong Kong's ambition to become the most international and economically active financial region, and on June 1, a new virtual asset service provider licensing system will officially take effect.

The Hong Kong Securities and Investment Institute is planning to train "licensed" virtual asset traders

After the official development application for the license, Hong Kong has also continued to promote the development of cryptocurrency and Web3 industries. Among them, the Hong Kong Securities and Investment Institute (HKSII) plans to start training "virtual asset traders". Its chairman Colin Shaftesley revealed that the institute will hold a series of training programs and seminars on virtual assets in the next few months.

According to the HKSII official website, two webinars with the themes of "How digital assets coexist in the IT architecture of traditional finance" and "Digital assets for portfolio management" have been added to the scheduled itinerary on July 20 and July 25 respectively.

It is understood that HKSII is the main licensing body for Hong Kong's financial services industry. It has close ties with the Hong Kong Securities and Futures Commission (HKSFC) and is responsible for providing training and license examinations for brokers and asset managers in Hong Kong.

HKSII established a "Virtual Asset Working Group" to assist in the formulation of examination plans

In fact, as early as the same day that the new license system for Hong Kong's Virtual Asset Trading Platform (VATP) came into effect, HKSII stated in the latest updates on its official website that it was working closely with the Examination Committee and the Education and Development Committee.

In addition, the official website also wrote: HKSII has established a virtual asset working group to help develop corresponding CPT plans and examinations to support the new licensing system for market practitioners. Details of our upcoming examinations and training programs will be announced soon. Stay tuned.

The Hong Kong Securities and Investment Institute pointed out that many people who apply for new projects in the HKSII program are interested in the career of cryptocurrency traders.

What are the conditions for financial practitioners in Hong Kong? First of all, you must pass the "Securities and Futures Practitioners Qualification Examination" of HKSII (a total of 14 examinations) before you can engage in regulated activities and licensed businesses listed in the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Is the application threshold for the Hong Kong Stock Exchange license too high? 

However, it should be noted that after the VATP license system was opened for application, it did not cause as much waves as expected. Currently, only HarshKeyPro, OKX, BitgetX, Gate, Greenland Group, etc. have announced plans to apply for virtual licenses in Hong Kong.

Experts believe that the main reason for not triggering a wave of license applications is that the "application threshold is too high." Two people who are trying to apply for exchange licenses revealed that the cost is at least around 100 million Hong Kong dollars. In addition to the cost of management personnel, most of the cost belongs to system technology, and this is probably just an entry ticket to apply for a trading platform license in Hong Kong.

What is even more worrying is that even if the system is built, there is still the risk of not being able to obtain a license, or even the possibility of having no business even if it is approved. These people believe that Hong Kong regulators should introduce some powerful custodial companies, such as the very mature Coinbase and Fireblocks, for exchanges to connect with.