HONG KONG, May 21 (R) - Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional.. Founded in 2013, Gatecoin was one of the first major crypto exchanges in Hong Kong, and it remains active in the city-state's crypto ecosystem today. In 2016, the firm suffered a high-profile hack that saw more than $2m in tokens stolen from users, but the firm has since rebounded from that setback and continues to grow in the Hong Kong market. In addition to exchanging crypto, the firm also allows users to purchase BTC and ETH using fiat (USD, HKD, and EUR are the only. Cryptocurrency exchanges are on tenterhooks as they await the outcome of a proposal by Hong Kong's government to ban retail investors from trading in the city, at a time when digital assets are.. Hong Kong will regulate all cryptocurrency trading platforms operating in the financial hub, the city's markets watchdog said, changing its previous opt in approach. Ashley Alder, chief executive officer of the Securities and Futures Commission (SFC), said during the 2020 Hong Kong FinTech Week that the requirement will apply to all platforms even if they do not trade security tokens, according to R SFC Keen on Robust Crypto Exchange Regulations According to R, Hong Kong's Securities and Futures Commission (SFC) on Tuesday (November 3, 2020), announced plans to regulate all crypto exchanges regardless of whether they list securities tokens
According to Hong Kong's proposed law, only professional investors with portfolios worth at least HK $8 million (US$1.03 million) will be eligible to be licensed, leading to concerns smaller retail traders would be locked out of Hong Kong's cryptocurrency market Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Exchange Blockchain and crypto asset exchange iBTC 亞洲最受歡迎比特幣交易平台，港元交易比特幣，一站式交易比特幣，以太幣等22個交易市場。分散投資組合，持牌機構港元信徒，信心保證。Trade Bitcoin, Ethereum and 22+ markets on iBTC Exchange with Hong Kong Dollar SFC To Regularize Hong Kong Cryptocurrency Exchange Scene According to R, Hong Kong's Securities and Futures Commission (SFC) is ready to introduce a regulatory framework for cryptocurrency exchanges in the city. Speaking at a fintech conference on Wednesday (November 6, 2019) in Hong Kong, Ashley Alder, head of the SFC remarked Cryptocurrency exchanges in Hong Kong run up to the dozens and include some of the world's biggest. Currently, Hong Kong operated under an opt-in approach, which makes it optional for exchanges..
Hong Kong's crypto community reacts to the Legislative Proposals Sam Bankman-Fried, CEO of FTX Exchange gave his thoughts on the Legislative Proposals. He noted that it is still in the consultation stages and that whether or not an exchange is in Hong Kong so as to be covered by the Legislative Proposals are subtle and non-obvious Hong Kong's cryptocurrency regulations for exchanges are soon set to change. In November of 2020, the Securities and Futures Commission (SFC) announced a consultation period for a new, far more stringent, regulatory regime for cryptocurrency exchanges. This consultation period ends on January 31, 2021 Prior to obtaining the license to exchange cryptocurrencies in Hong Kong (if required), you should establish a company. In Hong Kong, there are two main organizational and legal forms, namely: company limited by shares and company limited by guarantee. Company limited by shares is the classical and most common legal form for operating business HONG KONG (R) -Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors,..
In Hong Kong, cryptocurrency exchanges will likely soon be required to be licensed by the city's markets regulator, U.S. News reported. They'll also only be able to provide services for.. Hong Kong cryptocurrency exchange regulation To carry out cryptocurrencies and fiat funds in Hong Kong, you need to obtain a money service operator license, as well as to check for the absence of transactions to sponsor terrorism and purchase weapons (AML / CTF) Crypto Exchanges in Hong Kong Allow Services Only to Professional Investors Crypto Exchanges in Hong Kong will allow services to only professional investors. FSTB has been consulting on proposed changes to the current opt in system. Investors must hold portfolios worth HK $8M to qualify for professional investor status The cryptocurrency exchanges in Hong Kong are not Hong Kong exchanges. Although many of the biggest cryptocurrency exchanges have offices in Hong Kong, they fly their corporate flags elsewhere. Binance, the biggest by volume, is notoriously elusive of where that might be. Coinbase and Kraken are American. Huobi is Singaporean. BitFenix is in the British Virgin Islands. On the derivatives side. According to the law in Hong Kong, there is no foreign exchange control policy. Cryptocurrency exchanges, as well as Bitcoin ATMs in Hong Kong, do not fall under the types of businesses for which a Monet Service Operator License is required
Hong Kong is stepping up its efforts to formally regulate cryptocurrency exchanges in the city. The Securities and Futures Commission (SFC) just released a newly drafted regulatory framework, which allows the securities watchdog to issue licenses to crypto trading platforms According to a report by Crowdfund Insider published on September 12, 2019, major cryptocurrency exchange platform Huobi is set to pursue reverse initial public offering (IPO) in Hong Kong.. Huobi Looking for a Backdoor Entry. Crypto business ventures have typically had it tough when it comes to going public on a regulated stock exchange
We're a world-leading cryptocurrency and Bitcoin exchange, providing spot and derivative trading services to millions of users in over 180 countries. We provide hundreds of tokens and futures trading pairs to help traders optimize their strategy. Our spot trading service includes spot and margin trading. For derivatives, we have perpetual swaps, futures and options. We also provide a. Hong Kong's Financial Services and the Treasury Bureau also required cryptocurrency exchanges to be licensed before they can operate. The moves come as governments worldwide determine how best to.
Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday. Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and. Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges. . 4Overview of Hong Kong's New Crypto Exchange Framework Contact Henri Arslanian FinTech & Crypto Lead China and Hong Kong email@example.com
Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to. The SFC sent letters to seven cryptocurrency exchanges in Hong Kong notifying them that they should not trade cryptocurrencies which are securities as defined under the SFO unless they are licensed by the SFC. read more. Our work. Newsletters. Podcasts. News and events. 12th Floor Dominion Centre, 43-59 Queen's Road East, Hong Kong . Telephone: (852) 2905 7888. Facsimile: (852) 2854 9596. Cameroon. and 195 more. Based in Hong Kong, Bitfinex is one of the leading cryptocurrency exchanges in the world that is geared towards cryptocurrency investing and trading. It is managed by.
Tighter oversight for exchanges in Hong Kong. Aside from banning retail traders, the regulator also wants to tighten its oversight over exchanges. Currently, exchanges in the region only have to submit to the regulator voluntarily. However, the FTSB wants the Security and Futures Commission to have greater power over the exchanges. Asley Alder, the CEO of the SFC remarked in a speech: This is. Exchanges Want Easy Licenses. It is to be noted that many major cryptocurrency exchanges, including Huobi, OKEx, and BitMEX, are based and operating from Hong Kong, but are licensed by other crypto-friendly jurisdictions.The majority of these companies did not opt-in for the existing regulatory frameworks of the local jurisdiction Hong Kong's securities watchdog, the Securities and Futures Commission (SFC) appears to be poised to lay down a regulatory framework for cryptocurrency exchange applications in the region. The news comes following a speech by Ashley Alder, the Chief Executive Officer of the SFC during Hong Kong FinTech Week 2019 Noting that a number of Hong Kong cryptocurrency exchanges rank in the top 20 by daily trading volume, the SFC said the exchange operators - under scrutiny - 'either confirmed that they did not provide trading services for such cryptocurrencies or took immediate rectification measures, including removing relevant cryptocurrencies from their platforms.' Additionally, the SFC warned of.
The legal status of cryptocurrencies and ICOs in Hong Kong as elsewhere is somewhat of a grey area. There is Pursuant to section 19(1)(a) of the SFO, no person may operate a stock market, unless such person is The Stock Exchange of Hong Kong Limited, a recognized exchange company of which a relevant recognized exchange controller is a controller, or a relevant recognized exchange. Hong Kong's financial regulator published new rules on Wednesday that would allow cryptocurrency exchanges to receive an operating license, a step intended to improve regulation and standards and. Hong Kong: 1st Ever Cryptocurrency Exchange Given a License. Share Please, fill out the form below to get a consultation on fintech regulation in Hong Kong. Enter your name. Enter your E-mail. Enter your phone number. I give my full consent to the processing and storage of my data . Send. The 1st ever license authorizing trade in digital assets has recently been granted to a company called OSL. Hong Kong's crackdown on cryptocurrencies is aimed at the cryptocurrency exchanges operating in the city. Exchanges will have to be licensed by the city's market regulator. Also, the law will. . Industry insiders say that the proposed restrictions on crypto trading, if it becomes law, could make companies and fintech talent lose interest in Hong Kong and move to more crypto regulation-friendly shores. The industry is still in its early stage of development and regulators should allow more open.
Crypto exchange warns of possible increase in crime. As the South China Morning Post reported on Monday, the Hong Kong government is looking to introduce a bill that seeks banning retail investors from trading cryptocurrency. Only professional investors would be able to trade cryptocurrencies, when the bill is passed Hong Kong's Financial Services and the Treasury Bureau (FSTB) said that confining the services of a VA exchange to professional investors. is appropriate at least for the initial stage of the licensing regime. Hong Kong law states that a professional investor must have a portfolio of HK$8 million ($1.03 million) HONG KONG, Apr 8, 2021 - (ACN Newswire) - Hong Kong Digital Asset Exchange (HKD.com), the first digital asset exchange to combine both an online platform and a sizable physical store in Hong Kong, plans to launch a one-stop NFT (Non-Fungible Token) trading platform in the third quarter of this year. It will be the first digital asset exchange in Hong Kong to introduce the blockchain.
. Hong Kong is stepping up its efforts to formally regulate cryptocurrency exchanges in the city. The Securities and Futures Commission just released a newly drafted regulatory framework. AAX Cryptocurrency Exchange launches in Hong Kong amid SFC warning. This launch came just a day after Hong Kong's securities regulator announced new guidance for the domestic crypto exchanges. Furthermore, the Securities and Futures Commission (SFC) indicated that cryptocurrency trading linked to security offering or futures contracts will now go under its remit as regulated activities. Cryptocurrency exchange Binance has opened a fiat gateway for Hong Kong dollars. Launched thanks to its partnership with Epay, Binance said on Monday users can deposit and withdraw Hong Kong. Dozens of cryptocurrency exchanges operate in Hong Kong, including some of the world's largest. Following the dual announcements out of the two cities, Hong Kong-listed exchange platforms Huobi and OKEx announced they would reduce their services. Over the weekend, stocks of OKEx and Huobi crashed 15% and 20% respectively. Following the news out of China, some of the country's major crypto. Bitfinex Hong Kong: Bitfinex is a leading and important cryptocurrency exchange that offers the major cryptocurrencies for trade and is a favorite spot for margin traders. Bitfinex is the top exchange by volume and perhaps the most important single exchange when it comes to the price of cryptocurrency
Hong Kong regulators intend to ban cryptocurrency exchanges from operating in the region without a license, as well as providing services to non-professional investors. Hong Kong authorities are concerned that cryptocurrencies may be used for money laundering. Particular attention is planned to be paid to the protection of user account . The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities which will.
, Hong Kong's largest bank, has been more cautious, saying this week that it had no plans to start a cryptocurrency trading desk or sell digital currencies as investment to customers. 01:15 Is. Hong Kong regulators announced on Friday (21) restrictive measures with cryptocurrencies in the retail market. According to R, the Financial Service and the Treasury Department (FSTB) have concluded that digital assets should only be operated by professional investors. The report also calls for a licensing regime for exchanges wishing to operate in the city-state Huobi Exchange Hong Kong: Huobi is the world-leading Bitcoin and Ethereum trading platform, providing secure and convenient trading services for hundreds of digital assets. Huobi is a global blockchain asset financial services provider including exchange, trade, wallet, and storage. They are one of the bests of cryptocurrency market
Earlier, an advocacy group of Hong Kong's cryptocurrency exchanges challenged the proposed regulations and warned that any such order would further push retail crypto investors towards unregulated platforms. Asia vs Crypto. However, Hong Kong is not the only Asian jurisdiction to come up with such proposals. Earlier, Thailand proposed similar rules that would have excluded a massive chunk of. . Earlier this year, Japanese cryptocurrency exchange Coincheck was hacked, which led to over $500 million worth of NEM digital coins being stolen. Other exchanges have also been hacked Hong Kong sourced profits from a cryptocurrency business carried on in Hong Kong are chargeable to profits tax. The broad guiding principle (i.e. what were the person's operations which produced the relevant profits and where those operations took place) will be applied to determine the source of the profits. (Similar comments were made in. Hong Kong's Securities and Futures Commission (SFC) granted OSL licenses for Type 1 (dealing in securities) and Type 7 (automated trading service) last year. Thus, the BC Group-operated trading platform became one of the first exchanges based in Asia to offer automated cryptocurrency trading services under the digital asset regime that SFC introduced in 2019
Cryptocurrency Exchanges Conference in Hong Kong, July 29 250 decision makers from the world's leading cryptocurrency exchanges are coming together at the old trading floor of the Hong Kong stock exchange to discuss collaboration, industry standards, technology and regulation Hong Kong's First Licensed Cryptocurrency Exchange. Legal News & Analysis - Asia Pacific - Hong Kong - Regulatory & Compliance . 23 September 2020 . The Securities and Futures Commission (SFC) has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities Ltd (OSL) to operate a virtual asset trading platform under a licence for Type 1 (dealing in securities) and.
Hong Kong plans to allow cryptocurrency exchange only for professional investors 21.05.2021 / 23:20 The cryptocurrency exchanges operating in Hong Kong will have to be licensed by the market regulator and will be allowed to provide services only to professional investors, according to government proposals released on Friday HONG KONG (R) -Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday. Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. All cryptocurrency exchanges in Hong Kong will be required to register with securities regulator, despite not dealing in securities. This was previously optional. Honestly, all the countries finally talking about Central Bank Digital Currency (CBDC) will make regulations hit hard around crypto currencies. So, this was expected. And countries like Iran adopting bitcoin will only [
Many cryptocurrency exchanges operate in Hong Kong, some of them are among the largest globally. Cryptocurrency is also very much more adopted in Asia than it is elsewhere, so investors in the region will be extremely concerned. The Financial Services and Treasury Bureau (FSTB) has been sounding out the market over the last year before coming to their conclusions. It said today that all. Best Cryptocurrency trading sites Hong Kong 2020! Casino types; Сrypto games; Gambling tips; Crypto coins; Cloud Mining; Sports betting; Crypto Exchange; Best Cryptocurrency trading sites Hong Kong 2020! 1. Binary Options with Binomo. New offers every single day! Binary options online platforms with various analytical and graphical tools, quality-of-life features alike inbuilt Economic.
It is a leading crypto asset exchange supporting fiat currency based in Hong Kong. Besides, USDT PRO is a digital asset exchange in Hong Kong that accepts HKD, USD and RMB deposits and withdrawals. Trusted by millions of users from all over the world which allows USDT PRO to become one of the largest digital asset exchanges in Asia. You can buy. Overseas incorporated companies registered under Hong Kong's companies' rules will be allowed to apply for licences as virtual asset service providers (VASPs), according to a note of the Financial Services and the Treasury secretary Christopher Hui Ching-yu. Cryptocurrency exchanges should only be allowed to offer services to professional investors at the initial stage of the licensing regime Here are 5 cryptocurrency business ideas in Hong Kong investors can use. Our team of lawyers in Hong Kong can assist you if you wish to open a company in Hong Kong. The Cryptocurrency Exchange: This business idea is one that has been common ever since the launch of the Bitcoin and other cryptocurrencies. It is based on creating a platform that. Hong Kong Retail investors will not be allowed to trade cryptocurrencies. The Hong Kong government has introduced a legislative proposal to ban retail investors from trading crypto and it requires all the virtual assets trading platforms to get licenses for operating in the territory Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday.. Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry
Hong Kong said cryptocurrency exchanges can only provide services to professional investors, R reported. These include individuals with investment portfolios of at least roughly $1 million. Hong Kong's First Licensed Cryptocurrency Exchange. The Securities and Futures Commission (SFC) has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities Ltd (OSL) to operate a virtual asset trading platform under a licence for Type 1 (dealing in securities) and Type 7 (providing automated trading services.
Huobi has secured a license from Hong Kong securities regulator SFC; Huobi launches 4 crypto investment funds in Hong Kong . Huobi Technology Holdings subsidiary Huobi Asset Management has launched four funds for investing in cryptocurrency, securing $50 million in funding for the product thus far. According to a report by the South China Morning Post (SCMP),the offering consists of two funds. Hong Kong's Cryptocurrency Exchange, Gatecoin, Officially Starts Liquidation Process. Two years ago, in May of 2016, one of Hong Kong's cryptocurrency exchange firms publicly disclosed that it was the target of a carefully planned hack. Gatecoin, the exchange, was so badly hit that it lost ETH 185,000 and BTC 250 which was worth $2 million The Securities and Futures Commission (SFC) of Hong Kong has released new regulatory rules for Bitcoin and cryptocurrency exchange in the country. The announcement was made public at a financial tech event held on 6 November by Ashley Alder, Chief Executive. The SFC first laid down guidelines for cryptocurrency funds and digital exchanges in November of 2018 Investments will be accepted in both fiat and cryptocurrencies. While the exchange did not specify what amount of financing can be attracted for the funds, it said the size of the funds is under discussion and will depend on the development of distribution channels. Hong Kong first granted a cryptocurrency company with the financial license in August 2020. Back then, Hong Kong's watchdog.