Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto


Source: regulationasia.com regulationasia.com

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The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says. Industry body GDF (Global Digital Finance) has issued a response to a Hong Kong government consultation proposing to enhance the city’s AML/CTF regime through the introduction of a new licensing regime for VASPs (virtual asset services providers). “Providing a clear system for the operation and regulation of VASPs in Hong Kong ensures that the VASP industry can continue to grow and develop, while at the same time protecting the interests of investors,” GDF said in...