Hong Kong Shouldn’t Ban however Regulate Crypto Buying and selling, Says SFC Chairman By EconomySquare

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Hong Kong Shouldn’t Ban however Regulate Crypto Buying and selling, Says SFC Chairman

Hong Kong has no plans to impose a ban on cryptocurrency buying and selling like mainland China, Carlson Tong Ka-shing, the Chairman of Securities and Futures Fee (SFC) stated in an interview to native media on Monday. Tong, who is because of hand over the SFC’s rule to Tim Lui Tim-leung later this week, is in favor of regulating digital asset exchanges on investor safety grounds.

The Fee is anxious to supervise the crypto market, however the regulation restricts it, the SFC boss famous. One of many important obstacles for introducing a regulatory regime is that SFC can not outline all gamers and providers within the digital foreign money trade by utilizing the present Securities and Futures Legislation, Tong stated.

Nonetheless, SFC is actively working to search out methods to resolve that sort of authorized hole.

“They [some crypto companies] don’t match within the custodian, audit or valuation necessities, …

This text appeared first on Cryptovest

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