According to the head of the Hong Kong Securities and Futures Commission (SFC), Ashley Alder(Ashley Alder), the regulator planslicense cryptocurrency exchanges and will soon issue rules for such sites.
Reuters reports that the set of requirementswill establish rules for storing assets of clients of cryptocurrency exchanges, requirements for identifying users, and will also regulate other aspects of the activities of trading platforms.
“The rules will allow sites that provide the opportunity to trade virtual assets to be regulated by the SFC. This is a really big step forward, ”said Alder.
Partner at Primitive Ventures Davy Wang(Dovey Wan) noted that this is great news for Huobi, which is already listed on the Hong Kong Stock Exchange through a reverse listing. SFC regulation will allow other cryptocurrency platforms to operate more clearly in Hong Kong.
Note that last year the SFC introduced rules for cryptocurrency funds, but since then only one company has received the appropriate license.
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