Hong Kong Virtual Asset Exchange Compliance: WCT Protocol's SPOT License Application**
The WCT Foundation has initiated the application for a virtual asset trading platform license from the Hong Kong Securities and Futures Commission (SFC), with 2% of the 27% tokens allocated for compliance system development, including KYC/AML upgrades and cold wallet custody. The first round of reviews is expected to be completed in Q1 2025, and if approved, it will become a benchmark connection protocol for compliant exchanges in Hong Kong, opening up the institutional market in Hong Kong and Southeast Asia. $WCT
