Hong Kong regulators introduced on Wednesday they’ll proceed with laws for obligatory licensing regimes for companies offering crypto dealing or custody companies, following the conclusion of a public session section.
This measure expands the excellent regulatory framework town is constructing for digital property, which already consists of an ordinance for stablecoin issuers now in drive and a compulsory regime for buying and selling platforms. Thus far, 11 exchanges have obtained approval from the Securities and Futures Fee (SFC).
The speedy subsequent step is the formal introduction of laws for sellers and custodians. In parallel, the SFC has launched a separate public session proposing licensing regimes for crypto advisory and administration service suppliers, integrating them into the anti-money laundering framework.
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