Hong Kong introduces strict regulations for OTC crypto trading to combat illicit activities. New measures include licensing framework and promotion of regulated exchanges, sparking industry feedback and concerns over compliance costs.
Xu LinHong Kong's Securities and Futures Commission issues a deadline for crypto exchanges to obtain licenses or face shutdown, leaving only two licensed exchanges in operation. The move aims to regulate the crypto market, but challenges lie ahead in balancing innovation with regulatory compliance.
JoyBybit applies for a Hong Kong license, signaling strategic expansion and intensifying competition in the burgeoning Asian cryptocurrency market.
BrianTiger Trade, backed by UP Fintech, pioneers cryptocurrency trading in Hong Kong, offering a unified platform for traditional and crypto assets, enhancing the trading experience for investors. This strategic move reflects UP Fintech's commitment to staying at the forefront of the evolving financial landscape.
JoyThis article will provide an in-depth analysis of the three most important licenses for issuing virtual asset ETFs in Hong Kong.
JinseFinanceOSL and Hashkey have already obtained compliance licenses, are ahead of the curve, and are vigorously expanding their business; 12 institutions followed suit and became license applicants, vowing to carve out their own space in the Hong Kong virtual asset market.
JinseFinanceSEBA received its in-principle approval in August, and has now received the full licence.
ClementThe SFC will release lists of licensed trading platforms, as well as those facing closure and those deemed 'suspicious'.
ClementThis shift has garnered considerable interest, especially when compared to the digital-asset crackdown in the United States. However, despite the enthusiasm, the city has yet to attract major investments from an industry still recovering from the market downturn last year.
CaptainXHong Kong will introduce a mandatory licensing regime for stablecoin issuers as early as this year.
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