Licensing Regulation to Crypto Exchanges in Hong Kong

A law proposal will be submitted to oblige cryptocurrency exchanges to obtain licenses in Hong Kong.

Hong Kong, one of the most important trade centers in the world, is taking a new step towards the cryptocurrency exchanges. There is a possibility of licensing regulation to crypto exchanges in Hong Kong, here are the details ... According to the news compiled by Reuters, if the law proposal submitted to oblige cryptocurrency exchanges to obtain licenses is accepted by the government, the exchanges with the headquarters in Hong Kong will have to obtain a license from the city's regulatory agency. However, these exchanges will only be able to serve professional investors. The Hong Kong Financial Services and Treasury Bureau, which has been prepared to change the laws for cryptocurrency exchanges since 2020, has taken action to bring this law proposal to the city's 2021/2022 season meeting.