The Hong Kong Securities and Futures Commission (SFC) said it is preparing rules for licensing cryptocurrency exchanges and will present them next month.</div
Bloomberg cited SFC CEO Julia Leung as saying that the new guidelines and regulations will support cryptocurrency trading platforms that offer services to retail investors.
The rules are due to take effect as early as June 1. As part of the development of the regulations.
The regulator conducted preliminary consultations and received more than 150 different feedback and suggestions from various interested companies.
The Hong Kong regulator is focusing on anti-money laundering (AML) procedures and customer identification processes (KYC).
Note that SFC already provides some crypto-platforms in accordance with the rules of the. In addition, OSL and Hashkey Group have already received licenses from the regulator.
Earlier this month, it was reported that Gate.io had applied for several different licenses to operate in Hong Kong.