Hong Kong Wants Cryptocurrency Trading Platforms To Be Regulated – SFC

“This is a significant limitation, as under the current legislative framework if a platform operator is really determined to operate completely off the regulatory radar it can do so simply by ensuring that its traded crypto assets are not within the legal definition of a security,” Ashley Alder, chief executive of the SFC, said in a speech on Tuesday.

Consequently, the Hong Kong government, today, will propose a new licensing regime today under its anti-money laundering legislation, requiring all cryptocurrency trading platforms that operate there, or target investors in the city, to apply for an SFC licence, Alder said.