RATE Group | Hong Kong Regulator to Unveil New Cryptocurrency Exchange Rules
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Hong Kong Regulator to Unveil New Cryptocurrency Exchange Rules

06 Nov Hong Kong Regulator to Unveil New Cryptocurrency Exchange Rules

Posted at 08:16h in Cryptocurrency News by

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Hong Kong’s financial regulator — the Securities and Futures Commission (SFC) — will publish a new set of regulations for Bitcoin (BTC) and cryptocurrency exchanges today. The news, reported by Reuters on Nov. 6, was announced by Chief Executive Ashley Alder at a local fintech event. 

Regulatory clarity for crypto exchanges operating in Hong Kong

The new requirements will detail how exchanges much approach custody, compliance such as Know Your Customer and Anti-Money Laundering rules, among other issues.

“The framework will enable virtual asset trading platforms to be regulated by the SFC, a major development which builds on a way forward I outlined at the same time last year,” said Alder. 

As Cointelegraph reported, the SFC first established guidelines for crypto funds and exchanges in November 2018. Now, a year later, the regulator is taking that work forward, Alder told the conference on Wednesday.

Huobi could become first licensed exchange in HK

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