18.12.2020. Hong Kong beefs up cryptocurrency monitoring

Company News

Hong Kong financial markets’ regulator informed that the government will introduce a new licensing system for cryptocurrency trading, effectively giving it the power to oversee all virtual assets trading platforms in the city.
Platform operators need to apply for a licence with the Securities and Futures Commission (SFC) if they operate or target investors in Hong Kong in future.
The  government will propose a new licensing regime under the Anti-Money Laundering Ordinance for platforms which trade any type of crypto asset even if not classified as securities.