bitcoin, ethereum, litecoin, btc, eth, ltc
Hong Kong's cryptocurrency exchange licensing guidelines to support trading platforms
Leung said that the consultation process on the licensing regime received more than 150 responses from interested parties, with anti-money laundering and know-your-customer regulatory requirements among the key considerations.
While confirmation is awaited for most prospective Virtual Asset Service Provider (VASP) licensees, some trading platforms have already started offering crypto-related services under SFC supervision. OSL and Hashkey Group are among the few trading platforms to have already received licenses from the SFC.
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Overall, the move by the SFC is seen as a positive step toward regulating the cryptocurrency industry in Hong Kong. It is hoped that these guidelines will help to attract more reputable trading platforms and investors, thereby increasing the legitimacy and stability of the crypto market in the region.