Hong Kong’s New Rules on Crypto Trading Platforms

The Securities and Futures Commission (SFC) of Hong Kong has announced new rules for platforms that let people trade cryptocurrencies. The SFC is soliciting feedback on whether licensed platforms should be allowed to serve retail investors and what consumer protection measures should be put in place. The plan is a response to the fact that trading in cryptocurrencies is becoming more and more popular and that the industry needs more oversight.

SFC’s Proposed Rules on Crypto Trading Platforms

The SFC wants to make it easier to keep an eye on crypto trading platforms in Hong Kong by proposing new rules. One of the main ideas is to let licensed platforms serve individual investors. This would make the market for crypto trading much bigger. However, the SFC also recognizes the need for adequate consumer protection measures. As such, the regulator is seeking comments on what measures should be put in place to protect consumers.

Feedback on the Proposed Rules

The SFC is currently soliciting feedback on its proposed rules for crypto trading platforms. The regulator is seeking input on whether licensed platforms should be allowed to serve retail investors and what measures should be put in place to protect consumers. The SFC is also interested in hearing from the public on any other issues related to crypto trading that they feel should be addressed.

In short:

• Hong Kong’s Securities and Futures Commission (SFC) has proposed new rules for crypto trading platforms.
• The SFC is seeking feedback on whether licensed platforms should be allowed to serve retail investors.
• The SFC is also seeking input on what measures should be put in place to protect consumers.
• The proposal comes in response to the increased interest in crypto trading and the need for greater supervision of the industry.

Photo by Nitin Sharma