Hong Kong SFC opens consultation to regulate crypto exchanges

The Securities and Futures Commission (SFC) of Hong Kong has called connected the nationalist to supply feedback connected its projected regularisation for crypto exchanges seeking to service retail investors successful Hong Kong.

The Hong Kong authorities received respective commendations from the crypto assemblage pursuing its program to legalize crypto trading for retail investors from June 1.

However, to guarantee a harmless concern environment, the SFC Chair Julia Leung said that retail investors would lone beryllium allowed to commercialized highly liquid crypto assets.

Exchanges to get a licence from the SFC

In airy of Hong Kong’s program to legalize crypto trading, the SFC announced connected Feb. 20 that it had launched a consultation insubstantial for the nationalist to supply feedback connected the commission’s regulatory program for crypto exchanges.

Under the SFC’s requirements, each crypto exchanges offering trading services successful Hong Kong indispensable beryllium licensed by the SFC.

The SFC said it is seeking feedback connected whether to let licensed exchanges to service retail investors and the measures to beryllium implemented to guarantee capable capitalist protection.

SFC Chair Julia Leung said the projected requirements see robust measures to support investors — pursuing the ‘same business, aforesaid risks, aforesaid rules’ principles.

The committee has invited each funny crypto marketplace participants to supply feedback connected its projected regulatory requirements connected oregon earlier March 31.

In addition, the SFC has urged crypto exchanges consenting to proceed operating successful Hong Kong to duly use for a license, portion those who bash not mean to use for a licence should adjacent down their operations.

Huobi moves to get Hong Kong license

Tron laminitis and Huobi advisor Justin Sun announced connected Feb. 20 that Huobi volition beryllium launched successful Hong Kong arsenic it seeks to get a crypto trading licence from the SFC.

“With the caller license, Huobi volition beryllium capable to grow its services and offerings to customers successful Hong Kong, providing a wider scope of crypto trading and concern options,” Sun said.

The caller exchange- Huobi Hong Kong- volition beryllium focused connected providing trading services for organization investors and high-net-worth individuals.

The station Hong Kong SFC opens consultation to modulate crypto exchanges appeared archetypal connected CryptoSlate.