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The Hong Kong Securities and Futures Commission stated that license applicants who breach regulations may be denied a license for crypto retail trading under the new regime.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/4850fd6e38e940ae8b5a8a4f5ebe3de9.gif" />The Hong Kong Securities and Futures Commission issued a warning today regarding unlicensed cryptocurrency exchanges involved in “improper practices.” They emphasized that conducting unlicensed activities is considered a “criminal offense” in the city.According to the commission’s statement, some unlicensed <a href="https://cryptosheadlines.com/crypto-trading-firms-9-8m-polygon-token-transfer-to-coinbase-and-binance-causes-matic-price-plunge/" rel="noopener noreferrer nofollow">crypto trading</a> platforms falsely claim to have submitted license applications to the SFC when they have not done so. The SFC stated that making fraudulent or reckless misrepresentations to induce others to trade in <a href="https://cryptosheadlines.com/hong-kong-virtual-asset-consortium-considers-adding-terra-luna-classic-lunc/" rel="noopener noreferrer nofollow">virtual assets</a> is an offense. <a href="https://cryptosheadlines.com/hong-kong-regulator-warns-of-criminal-implications-for-improper-crypto-exchange-practices/" rel="noopener noreferrer nofollow">Read More...</a>

Hong Kong Regulator Warns of ‘Criminal’ Implications for Improper Crypto Exchange Practices

CryptosHeadlines.com

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