Hong Kong Regulator to Conduct On-Site Inspections of Crypto Platforms Pursuing Licensing Applications
Hong Kong's Securities and Futures Commission (SFC) will conduct on-site inspections of crypto trading platforms seeking licensing as a key deadline approaches. By June 1, 2024, all virtual asset trading platforms (VATPs) in Hong Kong must be licensed or "deemed-to-be-licensed." The SFC will focus on ensuring compliance with regulatory requirements, particularly in safeguarding client assets and know-your-client processes. Currently, only two entities are licensed by the SFC, while the applications of 18 entities remain in the system and 11 have been removed or withdrawn.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NEAR Achieves Blockchain Sharding, Solving the Blockchain Trilemma
Analyst Forecasts 8,500% Surge for Cardano: Is $31 the Next Target?
The Lesser-Known Crypto Positioned for 150x Profits – Don’t Miss Out!
SBF’s Doctors Support Appeal Citing Autism and ADHD in Defense at Court, How Will Justice Play Out?