Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Hong Kong regulator to review cryptocurrency rules ‘where appropriate’, finance minister says
ADOPTION NEWS

Hong Kong regulator to review cryptocurrency rules ‘where appropriate’, finance minister says

By Crypto FlexsJuly 3, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Hong Kong regulator to review cryptocurrency rules ‘where appropriate’, finance minister says
Share
Facebook Twitter LinkedIn Pinterest Email
Policy • July 3, 2024 3:40 a.m. EDT

Posted 1 minute earlier In ~

Updated: July 3, 2024, 3:44 AM EDT

Hong Kong’s financial secretary said the regulator will “review requirements” for cryptocurrency-related activities as needed as the industry develops.

Christopher Hui, Minister of Financial Services and Treasury, said The Hong Kong Monetary Authority and the Securities and Futures Commission “will monitor market developments and review requirements for VA-related activities as appropriate,” the Legislature heard today. He made the remarks when a lawmaker asked whether the regulator would speed up the cryptocurrency licensing review process and relax rules for intermediaries to distribute crypto assets.

Hui noted that licensed companies or registered entities can distribute cryptocurrency-related products after notifying the regulator, and “there is no need to apply for a change in licensing conditions.”

The question was raised after a number of global exchanges, including OKX, Gate.io, and HTX, withdrew their applications for a license in Hong Kong in May ahead of the deadline set by the SFC. The regulator said that from June 1, all cryptocurrency trading platforms operating in Hong Kong must be licensed by the SFC or be “deemed authorised” applicants.

Duncan Chiu, a member of Hong Kong’s legislature, Raise a concern It criticised what it called “overly stringent” licensing regulations, saying they were keeping major global exchanges out of Hong Kong.

Chiu wrote: Opinion piece It reported last month that the withdrawal of licenses from several exchanges had “shaken market participants’ confidence in Hong Kong’s Web3 development drive”.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Current financial disclosures include:

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Like PEPE in 2024 and SHIBA INU in 2021, can you invest $ 100 for $ 100?

March 27, 2025

Binance Launches New Trading Pairs and Trading Bot Service

October 15, 2024

Bitcoin ransomware paralyzes hospitals across Romania.

February 14, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.