Hong Kong’s SFC Invites Companies to Apply for Regulatory Licenses

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However, according to reporters from Bitcoincapital, the SFC will not be forcing local companies to go through with the license. The Securities and Futures Commission of Hong Kong has finished drafting its regulation and started to release a set of guidelines for crypto companies based in the city. What this means is that every company that operates in Hong Kong, will have a choice to apply for the license or remain unregulated. Considering that billions of dollars are funneled from Mainland to Hong Kong, it’s extremely likely that the large majority of crypto exchanges in the city will bite the bullet and go for a regulatory license. Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies Found a mistake?

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The Securities and Futures Commission of Hong Kong has finished drafting its regulation and started to release a set of guidelines for crypto companies based in the city. The decision comes just a week after China’s Xi JINPING announced a plan to focus on blockchain development in the Mainland.

30.10.2019  |   in Legislation PBoC Emphasizes the Importance of Blockchain Adoption in Commercial Banks Considering that most of the retail investors in Hong Kong tend to be Chinese Mainlanders, the SFC needed to somehow jump on the Chinese blockchain bandwagon to keep it rolling in the future.

However, according to reporters from Bitcoincapital, the SFC will not be forcing local companies to go through with the license....

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