Hong Kong’s government is seeking to change the rules for cryptocurrency trading firms operating or offering services within the city jurisdiction.
A new consultation paper detailed by Clara Chiu, director of licensing at the Securities and Futures Commission (SFC), in a keynote speech at Hong Kong FinTech Week 2020 on Tuesday, will propose that the SFC be given expanded regulatory oversight over all “centralized virtual asset trading platforms” in Hong Kong.
This will be regardless of whether they provide access to tokens considered to be securities or solely cryptocurrencies like bitcoin.
