Hong Kong SFC will regulate all cryptocurrency exchanges

Hong Kong Securities and Futures Commission (SFC) plans to introduce regulation of all cryptocurrency exchanges in the city, including those who do not provide stock token trading services.

Ashley, CEO of Hong Kong regulator, told about it Older (Ashley Alder) at the Fintech Week conference. This step was a continuation of the regulator's policy. Last year, the SFC called on
cryptocurrency platforms, working in Hong Kong, register with the regulator in case, if they "offer trading at least one share token".

Wherein, according to Older, some sites decided not to register their activities. The new requirement should ensure better compliance of cryptocurrency exchanges with the requirements of the anti-money laundering law.

«После введения в действие новых правил все платформы для торговли виртуальными активами в Гонконге будут регулироваться, monitored and tracked. There will be two options for supervision: under last year's registration rules, either as part of a new licensing approach, presented today. Failure to comply with licensing requirements will be regarded as a crime ", - emphasized the head of the SFC.

Currently, several large cryptocurrency exchanges are based in Hong Kong., moved from China, including Huobi, OKEx and BitMEX.

According to The Block, USA remain
the most popular jurisdiction for cryptocurrency companies, предоставляющих торговые услуги для институциональных клиентов.