Coinpedia 28 Oct 2024

Hong Kong To License More Crypto Exchanges! 🇭🇰

cryptocurrency Virtual Asset Trading Platforms Eric Yip SFC Hong Kong

Hong Kong's Securities and Futures Commission (SFC) is accelerating its efforts to license more cryptocurrency exchanges, intending to both enhance regulation and build trust in the sector. During the 2024 Fintech Week, Dr. Eric Yip, a leading official from the SFC, emphasized new strategies for tightening and expediting the licensing process for virtual asset trading platforms (VATPs).

This move aims not just to impose more regulations but also to foster a more trustworthy environment for crypto traders and investors in Hong Kong. By fast-tracking this process, the SFC is taking proactive steps to position Hong Kong as a competitive hub in the global cryptocurrency market.

Source: coinpedia.org ↗

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