November 6, 2019. By. Jame DiBiasio. Ashley Alder, HK SFC. Ashley Alder, the CEO of Hong Kong's Securities Futures Commission, is blazing a path to regulation for crypto-trading platforms. It offers crypto exchanges a route to becoming licensed, provided they trade at least one virtual asset that is deemed a security Hong Kong's Securities and Futures Commission has established a new regulatory framework that allows crypto exchanges to opt-in to be licensed and regulated. Starting Wednesday, centralized. Local financial technology and crypto industry associations have opposed regulation stopping exchanges from offering services to retail investors, warning this could drive exchanges out of Hong.
Hong Kong-based crypto exchanges have to obtain licenses from the territory's markets regulator. It also restricts their service offerings only to professional investors, according to the consultation published The SFC's ability to regulate crypto exchanges operating in Hong Kong is constrained by the restriction of its regulatory remit to investment products that are either securities or futures contracts as defined by the Securities and Futures Ordinance (SFO). The SFC is thus only able to regulate activities relating to crypto assets that are securities as statutorily defined. Most cryptocurrencies, such as Bitcoin and Ether, are not however securities, which means that. Five questions about Ashley Alder's crypto regulation. The Hong Kong SFC chief is regulating all virtual-asset business, raising big questions for the industry's future. Published. 8 months ago. on. November 3, 2020 . By. Jame DiBiasio. HK image: Photo by Sean Foley on Unsplash. Ashley Alder, CEO of the Hong Kong Securities and Futures Commission, has just announced a sweeping change to.
In Hong Kong there is no specific framework for the regulation of stablecoins. Most stablecoins have a central issuer that sells and redeems the stablecoin for the currency backing it. This behavior likely falls under existing regulation administered by the Hong Kong Monetary Authority, in particular Stored Value Facility (SVF). Currently there is no indication that a company handling cryptocurrency has any chance of seeing their SVF license accepted Hong Kong Regulator to Treat Some Crypto Exchanges Like Brokers. William Foxley. Nov 6, 2019 at 11:17 a.m. UTC Updated Nov 6, 2019 at 12:05 p.m. UTC. Hong Kong Regulator to Treat Some Crypto.
. The FSTB said on Friday in its consultation conclusions all virtual asset (crypto currency) exchanges should be licensed if they wished to operate in Hong Kong SFC's regulatory action halts one Hong Kong ICO. On 19 March 2018, the Securities and Futures Commission (SFC) issued a press release stating that Black Cell Technology Limited (Black Cell) halted its initial coin offering (ICO) to the Hong Kong public as a result of regulatory action by the SFC
Hong Kong to Align Crypto Regulatory Framework with FATF Standards. By Manesh Samtani, Regulation Asia. Published on 3rd November 2020. The government proposes to introduce a licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones. Hong Kong's government has launched a. The Hong Kong's Securities and Futures Commission (SFC) announced that it plans to regulate all cryptocurrency exchanges in the country, R reported Tuesday. Hong Kong has struggled in the past with unclear rules for crypto exchanges. After a first failed attempt in 2018, the country published an opt-in framework for crypto. . They argued that most of them will move to overseas and unregulated platforms to trade crypto. Just when cryptocurrencies are seeing increases in market value amid the growing rate of institutional adoption, Hong Kong is looking to ban retail investors and traders in the country from. The exchanges hit the most by the regulations are those that already have little reason to proclaim they are in Hong Kong. Futures platforms, crypto-to-crypto exchanges and ICO platforms are attractive business models because they don't require a jurisdiction Hong Kong has access to many large Bitcoin and cryptocurrency exchanges. Have a look at our favorites below: Popular Exchanges to Buy Crypto & Bitcoin in Hong Kong. Coinmama. Works in almost all countries. Highest limits for buying bitcoins with a credit card. Reliable and trusted broker. BUY NOW. CEX.io
Cryptocurrency exchanges in Hong Kong are set to be prohibited from offering services to retail crypto traders following a new government proposal. Hong Kong Floats New Proposal On Licensing Crypto Firms The legislative proposal, which Hong Kong's Financial Services and Treasury Bureau (FSTB) floated, has now moved past its consultation period, R report Hong Kong regulator begins crypto exchange crackdown. Business 28 February 2020 Ed Drake . Regulators in Hong Kong are preparing to tighten their policies in relation to crypto exchanges, as part of a crackdown recommended by an international money laundering watchdog. The Hong Kong government will introduce more stringent controls on anti-money laundering and terrorist financing to strengthen. In Hong Kong, cryptocurrency exchanges will likely soon be required to be licensed by the city's markets regulator, U.S. News reported. They'll also only be able to provide services for. Click HERE to find out ⭐ First Hong Kong Regulated Digital Asset Exchange Halts XRP Trading Following SEC Enforcement Action [U] - Other Exchanges Cancel XRP. | Crowdfund Insider: Global Fintech.
The Hong Kong government has today proposed that all cryptocurrency trading platforms apply for a license that will be issued by the SFC, per R.This is in order to close a large loophole left by Hong Kong's current regulatory approach to crypto trading platforms.. In 2019, Hong Kong's Securities and Futures Commission (SFC) launched a framework that was designed to govern. Hong Kong's crackdown on cryptocurrencies is aimed at the cryptocurrency exchanges operating in the city. Exchanges will have to be licensed by the city's market regulator. Also, the law will.
Traditional Chinese junkboat sailing across Victoria harbour, Hong Kong. Source: iStock/Onfokus . The Very Smart Financial Group (VSFG) and its Arrano Capital blockchain arm have reportedly won regulatory approval to launch Hong Kong's first Bitcoin exchange-traded fund ().. Per a report from JRJ, access to the offering will be restricted to professional investors . This is despite Hong Kong being miles ahead of its Asia-Pacific peers and receiving high ratings from the financial agency. Reports have emerged that the Hong Kong government is looking to increase its efforts in the regulation of the crypto space. This is in a bid to.
Hong Kong's securities regulator is ramping up its scrutiny of domestic crypto exchanges by ordering them not to trade cryptocurrencies that are deemed as 'securities'. Following a previous notice where Hong Kong's Securities and Futures Commission announced that some digital tokens offered through initial coin offering (ICO) sales would be deemed as securities, the regulator has now. There are several crypto exchanges operating in Hong Kong which provide trading services for cryptocurrencies in and out of Hong Kong dollars. Since the rates of these local exchanges remain relatively high, investors would normally buy their crypto (mainly Bitcoin and Ethereum) via these exchanges, and then transfer them to other exchanges not based in Hong Kong to trade them against other. Hong Kong's Financial Services and the Treasury Bureau (FSTB) has released a paper outlining the conclusions to its consultation on a proposed licensing regime for virtual asset exchanges. The Hong Kong government is proposing legislative changes to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation through the introduction of a regulatory framework for so. Hong Kong-based digital asset firm OSL Digital Securities today announced it had been granted a licence to trade crypto by the region's markets regulator. The move could see OSL become the world's only publicly listed, licensed, insured and Big-4 audited digital asset platform, according to a statement from the firm
Hong Kong FSTB proposes to ban crypto trading services for retail traders and limit it to professional traders with at least a $1.03 million worth portfolio. The new proposed legislation would also require crypto exchanges to obtain an operating license if passed. The Financial Service and the Treasury Bureau (FSTB) of Hong Kong today proposed. About five crypto exchanges have been included in Hong Kong's regulatory sandbox, according to report by a Chinese media.. On November 1, 2018, Hong Kong's Securities and Futures Commission (SFC) issued new regulations on virtual asset investment and proposed to include the virtual asset trading platform into the regulatory sandbox management before giving licenses, for which numerous. rules (e.g. profits tax in Hong Kong) on the treatment of these business activities. The broad guidance set out by the DIPN1 is welcomed as a step on the regulatory front to bolster Hong Kong's position in this industry. However, we also discuss some areas where more needs to be done in order to ensure that Hong Kong's existing tax laws do not tax digital assets unfavourably. We now look. This would require more entities to register with local regulatory bodies and conduct AML surveillance on their behalf. Considering the actions of both the FSTB and SFC, we are witnessing a top-down suppression of the Bitcoin and cryptocurrency sector in Hong Kong. Lennix Lai, a Director at cryptocurrency exchange OKEX, which is based in the Seychelle s but has operations in Hong Kong, said.
Most crypto exchanges and mining companies in China are moving their operations overseas considering the latest crypto regulatory crackdown. The impact of China's crypto crackdown has sent shock waves even to the stock market and the public listed crypto companies. Stocks of Hong-Kong-Listed Companies of Huobi and OKEX Crash After Suspending Crypto Services. Most crypto exchanges and mining. Going forward, crypto exchanges looking to set up a presence in Hong Kong will need to register themselves with the SFC. The licensing requirement also comes with Anti-Money Laundering (AML. HONG KONG (May 21): Cryptocurrency exchanges operating in Hong Kong will have to be licensed by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday.Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. HONG KONG, May 21 (R) - Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional.
Cryptocurrency exchanges operating in Hong Kong will have to be licensed by the city's markets regulator and will only be allowed to provide services to professional investors, according to. A Comprehensive Guidance for Crypto Exchange Operators in Hong Kong - New SFC Regulatory Regime for Virtual Asset Trading Platforms . Enoch Wong. Dentons + Follow Contact. LinkedIn Facebook. . SFC chief Ashley Alder said that, The market for virtual assets is still very young and trading rules may not be transparent and fair, according.
They are not regulated; Hong Kong: 5. Global leader: ryptocurrencies are legal, and many blockchain companies have moved to Hong Kong; Regulators in Hong Kong are engaging crypto companies to help promote innovation ; Regulators are continuing to monitor cryptocurrency, while actively embracing distributed ledger technology; Proposed regulation may require cryptocurrency exchanges to operate. Virtual Assets Exchanges . Hong Kong government issued a consultation to implement a new regulatory framework requiring virtual asset exchanges to be regulated by the SFC . Key Points: • The Hong Kong Financial Services and the Treasury Bureau (FSTB) has issued a consultation paper outlining a new regulatory framework that will bring operators of virtual asset exchanges within the formal. At present, most crypto-exchanges are not regulated.Hui said the new licensing rule would match requirements of the Financial Action Task Force (FATF), of which Hong Kong is one of more than 200.
Hong Kong Fintech Week 2020: SFC Announces New Crypto Regulatory Regime for Virtual Asset Exchanges Kieran Donovan , Simon Hawkins , Kenneth Y.F. Hui Latham & Watkins LL On November 4th, the Hong Kong Financial Services and Treasury Bureau (FSTB) issued a public consultation that includes a new proposal for the regulation of crypto exchanges (New Regulations). If. Overseas incorporated companies registered under Hong Kong's companies' rules will be allowed to apply for licences as virtual asset service providers (VASPs), according to a note of the Financial Services and the Treasury secretary Christopher Hui Ching-yu. Cryptocurrency exchanges should only be allowed to offer services to professional investors at the initial stage of the licensing regime Hong Kong regulator sets out rules for crypto exchanges to get licences Wednesday, 06 Nov 2019 09:36 PM MYT Ashley Alder, Chief Executive Officer of Hong Kong Securities and Futures Commission, addresses the Pan Asian Regulatory Summit by Thomas R in Hong Kong, China October 10, 2017
Crypto industry body Global Digital Finance (GDF) has cautioned against the proposed regulations in Hong Kong that would allow cryptocurrency trading for professional investors only. Hong Kong Regulations Could Put Investors at Risk. In Nov 2020, Hong Kong's Financial Services and the Treasury Bureau (FSTB) issued its Legislative Proposals to bring AML regulations for crypto exchanges as per. If the crypto exchange is located outside Hong Kong, a crypto participant may possibly look to treat the gain as non-Hong Kong-sourced and therefore non-taxable in Hong Kong—similar to the IRD guidance on source of gains from trading is listed securities. Following the ING Barings and Hang Seng Bank profits tax cases, crypto trades that are effected through overseas brokers would help. Yes. A crypto exchange that operates in Hong Kong and offers trading of at least one security token on its platform would fall within the jurisdiction of the SFC and needs to be regulated under the Securties and Futures Ordinance (SFO). If a crypto exchange only offers digital assets that are not securities (e.g. cryptocurrencies, utility tokens), it can continue to operate as an.
. It's a regulatory minefield out there right now, said Thomas Glucksmann, head of Asia-Pacific business development at Hong Kong-based crypto exchange Gatecoin. 28 May 2021. Circular to licensed corporations Exemption for senior executives of licensed corporations - Compulsory Quarantine of Certain Persons Arriving at Hong Kong Regulation (Cap. 599C) - Compulsory Quarantine of Persons Arriving at Hong Kong from Foreign Places Regulation (Cap. 599E
Hong Kong's FSTB says all crypto exchanges operating in HK should be licensed and can only serve professional investors, and promises to propose new regulations — HONG KONG (R) -Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator More: CoinDesk, New York Times, Forkast, Cointelegraph, The Independent, Fortune, CNBC, Finance. VASPs that operate VA Exchanges in Hong Kong or target Hong Kong customers will need to apply for an SFC licence — failure to do so will be a criminal offence. The key takeaways are as follows As section 25(1) OSCO provides a wide basis for the prosecution to charge suspects for money laundering, it is important for crypto currency exchange platforms in Hong Kong to put in place an.
investing.com - A major Hong Kong-based online brokerage firm has reportedly suspended cryptocurrency futures trading due to regulatory concerns. Futu Securities, one Futu Securities, one Hong Kong brokerage Futu halts crypto futures over regulatory issues By Cointelegraph - Flipboar Hong Kong is currently working on specific policies for regulating crypto exchange platforms. The nation's SFC has called on exchange owners to participate in its regulatory sandbox, which will focus on determining the type of license to be issued to trading platforms Hong Kong Block Exchange - HKBX. Education Website. Bitcoin Monster . Local Business. Hong Kong Real Estate Agent Platform. Real Estate. 礦交所. Mining Company. Wintip Employment Agency. Employment Agency. ICO Crypto Academy 加密貨幣情報站. Media/News Company. Like-BTC 香港買賣加密貨幣 USDT BTC ETH. Product/Service. TTBIT Miner. Interest. DirectsApp. Advertising/Marketing. Selling Tesla Inc's (NASDAQ:TSLA) stock as tokens could land the cryptocurrency exchange Binance in hot water in Hong Kong, the South China Morning Post reported Thursday (local time).. What.