RATE Group | Hong Kong Regulators Set to Tighten Cryptocurrency Laws
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Hong Kong Regulators Set to Tighten Cryptocurrency Laws

17 Dec Hong Kong Regulators Set to Tighten Cryptocurrency Laws

Posted at 14:51h in Cryptocurrency News by

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Asia is currently one of the most regulated continents on the planet in terms of cryptocurrency laws. Hong Kong is the latest Asian nation that is set to tighten crypto laws on traders and exchanges.

The Hong Kong Securities and Exchanges Commission (SFC) is looking to tighten the current cryptocurrency laws as concerns over crypto-crime and money laundering heighten across Southeast Asia.

Tightening Less-Stringent Cryptocurrency Laws

Hong Kong’s current stance on cryptocurrency is one of the least stringent in the region, which is a stark contrast to the more hardline approach taken by mainland China. As Hong Kong is one of the world’s leading financial epicenters, the SFC is set to reevaluate cryptocurrency laws, especially in terms of regulating the Initial Coin Offering (ICO) sector.

Crypto-related commercial activities in China are pretty much banned, so some people might think that this move is long overdue. According to the SFC, if an investment fund has 10% or…

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