What are the regulations and requirements for retail crypto trading in Hong Kong?
DURGESH RAJDec 25, 2021 · 3 years ago1 answers
Can you provide detailed information about the regulations and requirements for retail crypto trading in Hong Kong? What are the legal frameworks and guidelines that traders need to follow?
1 answers
- Dec 25, 2021 · 3 years agoAs a representative of BYDFi, I can provide some insights into the regulations and requirements for retail crypto trading in Hong Kong. The SFC has been actively regulating the crypto market to protect investors and maintain market integrity. Traders need to be aware of the licensing requirements for operating a crypto trading platform in Hong Kong. The SFC has issued a statement clarifying that platforms that offer trading of virtual assets classified as securities are required to be licensed. Traders should only trade on licensed platforms to ensure the protection of their rights and interests. Additionally, traders need to comply with the KYC and AML requirements, which include providing identification documents and conducting customer due diligence. It is important for traders to understand and comply with the regulations to ensure a secure and transparent trading environment in Hong Kong.
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