What are the regulations and requirements for retail crypto trading in Hong Kong?

1 answers

• BirgithNov 03, 2024 · a year ago
  As 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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