Hong Kong describes a new crypto license system
Join Our Telegram channel to stay up to date on breaking news coverage The Securities and Futures Commission (SFC) of Hong Kong is seeking public input on its recently proposed licensing system for cryptocurrency exchanges, which is slated to go into effect in June 2023. Whether to permit regulated exchanges to service retail investors in the nation and what steps should be taken to provide a variety of “strong investor protection measures” are two important issues that need to be addressed during the public consultation session. On February 20, the SFC announced the start of a consultation process defining a new licensing system for the sector that would require all centralized cryptocurrency trading platforms operating in Hong Kong to get a license from the regulatory agency. The Securities and Futures Commission of Hong Kong requests public input on proposals to permit authorized cryptocurrency exchanges to provide services to retail investors The SFC’s p...