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Hong Kong Tightens Grip On Crypto With New License Rules The Coin Republic 12 Eyl 2024

Hong Kong Tightens Grip On Crypto With New License Rules 🛡️

cryptocurrency SFC Hong Kong OTC Trading

Hong Kong is intensifying its oversight of the cryptocurrency sector by implementing new licensing requirements for over-the-counter (OTC) crypto trading.

The Securities and Futures Commission (SFC) is spearheading this regulatory initiative aimed at exercising greater control over OTC crypto services. The Customs and Excise Department (C&ED) is also involved in this effort.

The primary goal of these new rules is to enhance transparency within the crypto industry and to address unlawful activities, such as money laundering and terrorist financing.

This move reflects Hong Kong's commitment to establishing a more regulated and transparent cryptocurrency market environment.

Kaynak: www.thecoinrepublic.com ↗

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