### Hong Kong’s Securities Futures Commission (SFC) has announced that it will unveil its new regulatory framework for cryptocurrency exchanges this May. The SFC aims to create a more legitimate crypto market and position the region as a top crypto hub. 

A restriction on crypto trading for retail investors was part of the regulatory framework published by the SFC in 2018. However, the agency notes that the "virtual asset landscape has changed significantly" since then.



After the SFC's new licensing scheme goes into effect in June, authorized exchanges will welcome retail investors to trade certain digital currencies. Taking this step will help Hong Kong on its path to becoming a leading cryptocurrency hub.



The SFC's goal is to strike a balance between protecting investors and fostering new ideas in the dynamic cryptocurrency sector. Although the regulator did not name any particular large-cap tokens, the Financial Times has reported that Bitcoin and Ethereum will be made available to retail customers.



Hong Kong is projected to become increasingly appealing to investors and enterprises wishing to enter the digital asset industry as more licenced trading platforms offer crypto-related services in the city-state. As the country continues to market itself as a center for digital innovation in Asia, it will be fascinating to see how these modifications influence the cryptocurrency industry in the region and entice new business owners to relocate their base of operations there.

Hong Kong’s Securities Futures Commission (SFC) has announced that it will unveil its new regulatory framework for cryptocurrency exchanges this May. The SFC aims to create a more legitimate crypto market and position the region as a top crypto hub. 

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Sun May 21 2023 Crypto Gets A Boost In Hong Kong: SFC Unveils Guidelines For Exchange Licensing

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Sun May 21 2023

Crypto Gets A Boost In Hong Kong: SFC Unveils Guidelines For Exchange Licensing