Julia Leung, head of the Hong Kong Securities Futures Commission of crypto business guidelines, announced that crypto licensing guidelines will be published in May.
The Hong Kong Securities Futures Commission (SFC) has made an important announcement on behalf of the crypto industry and Hong Kong. Hong Kong, which has been diligently obsessed with crypto studies for the past three months, announced that it will announce crypto exchange licensing guidelines next month. In line with the information disclosed, the guidelines will provide support to crypto trading platforms for individual investors in June.
Although the date has not yet been clarified, the planning, which is stated as June 1, is of great importance for Hong Kong’s crypto sector. The future work of Hong Kong, which is at the forefront of crypto licensing globally, makes both Hong Kong people and crypto investors curious.
Matters Included in the Report Mentioned
Anti-Money Laundering (AML) and Know Your Customer (KYC) regulatory requirements included some of the key considerations in the February 20 report to which Leung cited. It remains pending approval for most prospective Virtual Asset Service Provider (VASP) licensees. Some trading platforms have already started offering crypto-related services to investors under the oversight of the SFC.
Shining with crypto licensing transactions since January, Hong Kong has aroused great interest with its work to be carried out next month. Hong Kong’s moves, which also indirectly affect the crypto market, continue to arouse curiosity in investors.
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