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Hong Kong SFC to Issue Crypto Exchange License Guidelines in May


The Securities and Futures Commission of Hong Kong plans to provide more information about the city’s expanding digital currency regulatory environment next month.

According to the regulator’s Chief Executive Officer Julia Leung, instructions on the licensing system for virtual asset exchanges would be released in May.

She announced Thursday in the city that a consultation procedure for the regulatory framework that will apply to cryptocurrency exchanges received more than 150 replies.

Despite Hong Kong’s ambition to establish itself as the next global center for cryptocurrencies, not all trading platforms have opted to remain there for the long term.

Related: Hong Kong will be the new centre of Cryptocurrencies: Kaiko CEO

Bitget, a cryptocurrency exchange with $1.4 trillion in reserve assets, declared on April 24 that it would stop providing services to its Hong Kong clients once the Hong Kong VASP system went into force on June 1.


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