TLDR
Several regulators moved crypto licensing forward this week. Headline actions came from Hong Kongs FSTB and SFC, Ghanas Bank of Ghana via a new VASP law, and Indonesias OJK with a licensed?exchange whitelist.
- Hong Kong: authorities advanced new licenses for dealers and custodians alongside existing VATP rules per the government update.
- Ghana: parliament passed the VASP Bill, giving the Bank of Ghana licensing authority for crypto services per the regulator update.
- Indonesia: OJK published a whitelist of 29 licensed platforms, clarifying who can operate per the regulator notice.
Deep Dive
1. Hong Kong Licensing Push
Hong Kongs Financial Services and the Treasury Bureau (FSTB) and Securities and Futures Commission (SFC) are moving to legislate licensing regimes for virtual asset dealers and custodians, expanding beyond existing trading?platform licenses. The proposals follow concluded consultations and move toward legislative drafting, aiming to close gaps outside VATPs per the government update. A companion overview of plans highlights dealer and custody standards aligned with traditional finance per a media report.
If you operate OTC, brokerage, or custody in Hong Kong, prepare for formal licensing. Users should prefer SFC?licensed platforms and custodians once regimes go live.
2. Ghana Formalizes VASP Licensing
Ghanas parliament passed the Virtual Asset Service Providers (VASP) Bill, making crypto trading and services legal under a national framework and granting the Bank of Ghana primary licensing and supervision authority. Registration, AML/KYC, and consumer protection standards are expected, with operational guidelines to follow per the regulator update.
Firms in Ghana should prepare applications under BoGs forthcoming procedures. Users gain clearer protection and can check operator status against BoG registers.
3. Indonesia Publishes Licensed?Exchange Whitelist
Indonesias Financial Services Authority (OJK) issued a whitelist of 29 licensed crypto platforms, urging users to trade only with listed entities. The move sits within Regulation No. 23/2025, tightening oversight of crypto and digital asset derivatives per the regulator notice.
Users can quickly verify exchange legitimacy against OJKs list. Platforms must align product listings and derivatives processes with OJK approval rules.
Conclusion
Regulatory momentum this week centered on Hong Kong (broadening licensing to dealers and custodians), Ghana (a new VASP law with BoG oversight), and Indonesia (a formal licensed?exchange list). These steps increase clarity for compliant operators and give users practical checks to verify which platforms are legally permitted to serve them.
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