Only 1 Crypto Fund Has Passed Hong Kong’s SFC Regulatory Hurdles in First Year
Only one financial fund has passed Hong Kong's framework for digital asset investments.
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.
OSL Digital Securities was the first crypto exchange to apply for the SFC's opt-in license last November.
Hong Kong's government is set to change the rules for cryptocurrency firms operating within the city jurisdiction, according to remarks made Tuesday.
Tencent received the green light from the Hong Kong Securities and Futures Commission to build a blockchain-based virtual bank.
The Securities and Futures Commission will license crypto trading platforms like traditional brokers if they offer security tokens.