Hong Kong plans to ban retail trading of cryptocurrencies


Source: sunriseread.com sunriseread.com

Key Topics in this News Article:

News Snapshot:

Hong Kong plans to ban retail trading of cryptocurrencies 3rd November 2020 Facebook Advertisement Cryptocurrencies will now come under fresh regulations in Hong Kong as its Securities and Futures Commission (SFC) proposes to ban retail investors from trading in cryptocurrencies. The new rules also aim to force crypto exchanges in Hong Kong to obtain licenses. During the Hong Kong Fintech Week event on Tuesday, Chief Executive Officer of the SFC, Ashley Alder said that the Hong Kong government would establish “a new licensing regime” under its Anti-Money Laundering Ordinance for platforms which trade “any type of crypto asset even if...