Hong Kong to extend regulation to all cryptocurrency exchanges

The Hong Kong Securities and Futures Commission (SFC) will extend regulatory requirements to all bitcoin exchanges, Reuters.

A selective regulatory framework left certain crypto exchanges outside regulators’ scope. SFC Chief Ashley Alder said authorities will propose a new licensing framework.

Currently, several cryptocurrency exchanges operate in Hong Kong, including Huobi, OKEx and BitMEX.

In 2019 the SFC published licensing rules for trading platforms for virtual assets. A licence to operate in Hong Kong was required if at least one security token was traded on the platform.

Earlier in February 2020, authorities announced tighter regulation of the crypto industry in accordance with FATF recommendations.

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