Hong Kong’s securities regulator brainstorming new cryptocurrency regulations

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Hong Kong’s Securities and Futures Commission (SFC) is brainstorming various options to regulate crypto exchanges with utmost importance to tighten investor protection. Carlson Tong Ka-shing, SFC’s outgoing chairman also mentioned imposing outright ban on upcoming technology in the internet era will not be the right approach and will only make exchanges continue to operate in overseas markets. He added that SFC has been continuously monitoring the crypto operations and as the trading increases, it is imperative that proper regulations are stitched together.

He also added that no country has come up with a regulation standard that can be used and it is crucial to understand what needs to be done to create a regulated trading platform without compromising on investor protection.

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