Hong Kong Regulator to Treat Some Crypto Exchanges Like Brokers
The Securities and Futures Commission will license crypto trading platforms like traditional brokers if they offer security tokens.
Hong Kong's government is set to change the rules for cryptocurrency firms operating within the city jurisdiction, according to remarks made Tuesday.
Crypto hubs like Hong Kong, Singapore and Japan have a clearer regulatory picture going forward and are progressing faster than the U.S. and Europe.
The new license allows Huobi to advise on and manage securities investments.
OSL Digital Securities was the first crypto exchange to apply for the SFC's opt-in license last November.
Tencent received the green light from the Hong Kong Securities and Futures Commission to build a blockchain-based virtual bank.