21/05/21

HONG KONG: Jurisdiction to restrict crypto exchanges to professional investors.

As published on finance.yahoo.com, Friday 21 May, 2021.

HONG KONG (Reuters) - Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals to be presented later this year.

Hong Kong's Financial Services and the Treasury Bureau, which has been consulting the market on changes to rules for crypto exchanges since last year, intends to table the legislation in the upcoming 2021-22 session of the city's legislative assembly, it said in a statement on Friday.