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Under the rules, crypto exchanges are to maintain at all times no less than 5,000,000 Hong Kong dollars ($640,00) in capital, and at the end of each month, submit the platform's available and required liquid capital, a summary of bank loans, advances, credit facilities as well as a profit and
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The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms.Speaking to Cointelegraph at the Hong Kong WOW Summit, Lucy Gazmararian, the founder of
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Financial services providers in Hong Kong are already taking the first steps to provide services to retail investors, according to local reports. Brokers and fund managers in the region have reportedly asked for advice on licensing requirements ahead of new legislation.Lawmakers in Hong Kong passed an amendment to the Anti-Money
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