<p>The post <a href="https://coinpedia.org/crypto-live-news/hong-kongs-sfc-finds-unsatisfactory-practices-at-some-crypto-exchanges-seeking-full-license/" rel="noopener noreferrer nofollow">Hong Kong’s SFC Finds Unsatisfactory Practices at Some Crypto Exchanges Seeking Full License</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>As per a Bloomberg report, after conducting on-site inspections, Hong Kong’s SFC has found ‘unsatisfactory practices’ at some of the cryptocurrency exchanges that are seeking a full license. The report cited that some of the crypto firms are overly reliant on a handful of executives to manage the custody of client assets, while others aren’t properly guarding against cybercrime risks. As many as 11 entities have applied for a full license with the SFC. The SFC may opt to remove their deemed-to-be-licensed status or refuse their license applications for platforms that are unable to fix the critical deficiencies identified during on-site inspections.&nbsp;</p>

Hong Kong’s SFC Finds Unsatisfactory Practices at Some Crypto Exchanges Seeking Full License

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