Hong Kong Tightens Crypto Rules: SFC May Take Charge Of OTC Trading—Here’s Why

Quick Summary:

Hong Kong is considering changes to its cryptocurrency regulatory framework, particularly concerning over-the-counter (OTC) virtual asset trading services.

The Securities and Futures Commission (SFC) may play a larger role in overseeing the sector, working alongside the Customs and Excise Department (C&ED), according to a recent report from the South China Morning Post.

Citing unnamed sources familiar with the discussions, the report further disclosed that the SFC has consulted with industry players on this new licensing regime.

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets: HungaryChinaHong Kong

Topics: OTC trading Crypto Market Crypto OTC Crypto News Hong Kong and Crypto Over-the-counter SFC Bitcoin OTC Crypto OTC Trading Hong kong

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-14 @ 08:00:34 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 379 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22505131

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