The Securities and Futures Commission (SFC) in Hong Kong is seeking comment from the general public on its most recent proposed licensing framework for cryptocurrency exchanges. The SFC has asked for feedback from members of the general public. It is anticipated that this framework will begin to function beginning in June of 2023.
During the public consultation window, some of the most important questions that will be addressed include whether or not licensed exchanges should be allowed to serve retail investors in the country and what kinds of measures should be put in place to provide a range of “robust investor protection measures.” Both of these questions will be discussed. Another important question that will be discussed is whether or not licensed exchanges should be allowed to serve institutional investors. In addition to this, the subject of whether or not to allow regulated exchanges in the nation to provide services to institutional investors will be brought up for discussion as well.
On February 20, the Securities and Futures Commission (SFC) released a statement that described a new licensing framework for the industry and provided a summary of the consultation process that had taken place. All centralized cryptocurrency trading platforms that are now operating in Hong Kong are needed to get a license from the regulatory body in order to continue doing business in that region in accordance with the industry’s newly implemented licensing regulations.
The Securities and Futures Commission of Canada (SFC) has developed a set of proposed regulatory standards, which were derived from the prerequisites that are already in place for registered securities brokers and automated trading venues. The SFC is responsible for regulating the securities and futures markets in Canada. However, in order to meet the new regulatory requirements, several criteria that have previously been established have been amended. These modifications have been made.