Hong Kong's financial watchdog, the SFC, will now share a list of crypto platform applicants, thanks to public demand.
This decision comes after the JPEX crypto platform mess caused public uproar.
SFC's CEO, Julia Leung Fung-yee, clarifies that being an applicant doesn't guarantee they follow all the SFC rules.
Until now, only two crypto platforms were allowed for Hong Kong retail customers under new SFC rules.
Four other companies are seeking licenses: HKVAX, HKBitEx, Hong Kong BGE Limited, and Victory Fintech Company Limited.
Lawmakers are happy about this change and think it'll boost trust in regulations.
They're planning a discussion on October 9 about regulating virtual asset platforms.
Legislator Johnny Ng Kit-chong wants stronger rules, especially for stores selling crypto.
He says these physical stores need oversight for things like ads and crypto sales.
JPEX's recent issues, like operating without a license and suspending trading, show why we need better crypto regulation.
SFC says we need good rules to keep people confident in the market and to educate them about crypto risks.
SFC hesitated to share the applicant list earlier because they didn't want people to think these firms were fully following rules already.