The post Hong Kong’s SFC Tightens Crypto Market with New Licensing Regime: What’s Next? appeared first on Coinpedia Fintech News
The Hong Kong SFC Securities and Future Commission has 22 big players in the field who have applied for a crypto license to operate as a virtual asset exchange in the city. The list contains mega giants like Crypto.com, OKX and many more. This comes after, the Legislative Council of Hong Kong passed an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), introducing a licensing regime for Virtual Asset Service Providers (VASPs) in December 2022.
Hong Kong Ends license application for crypto exchanges
Hong Kong is no longer accepting license applications from cryptocurrency exchanges since February 29 as that was strictly the last day for applying.
In addition to noting that all non-compliant cryptocurrency exchanges in Hong Kong must close their doors by May 31, 2024, the Securities and Futures Commission
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