Hong Kong Regulators Set to Tighten Cryptocurrency Laws
Asia is currently one of the most regulated continents on the planet in terms of cryptocurrency laws. Hong Kong is the latest Asian nation that is set to tighten crypto laws on traders and exchanges.
Hong Kong’s current stance on cryptocurrency is one of the least stringent in the region, which is a stark contrast to the more hardline approach taken by mainland China. As Hong Kong is one of the world’s leading financial epicenters, the SFC is set to reevaluate cryptocurrency laws, especially in terms of regulating the Initial Coin Offering (ICO) sector.
The cost of regulations will be high. The requirements of the SFC initiative may prove too burdensome for some operators.