Hong Kong-based cryptocurrency exchange DFX Labs is one step closer to securing a full operating licence in the territory after securing a licence under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). According to public records from the Securities and Futures Commission (SFC), DFX Labs is "deemed to have been granted a licence to provide virtual asset services". However, while DFX Labs already holds a valid AMLO licence, its cryptocurrency trading services have not been formally approved. The SFC's record makes clear: "The applicant is only considered to have been approved to provide virtual asset services. The SFC has not granted the applicant a licence under AMLO. Its licence application is still pending."