Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Hong Kong Regulator to Conduct On-Site Inspections of Crypto Platforms Pursuing Licensing Applications

CointimeCointime2024/05/28 11:34
By:Cointime

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are licensed by the SFC, while the applications of 18 entities remain in the system and 11 have been removed or withdrawn.

0

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.

PoolX: Stake to earn
APR up to 10%. Always on, always earning.
Stake now!