Hong Kong’s Securities and Futures Commission (SFC) will begin accepting applications for crypto trading platform licenses on June 1, according to a Tuesday announcement.
The regulator has agreed to allow licensed virtual asset providers to serve retail investors, provided that operators assess understanding of the risks involved, according to a report on its consultation on policy recommendations released Tuesday. The SFC opened its initial policy recommendations to public feedback in February.
The rulebook explicitly bans crypto “gifts,” designed to incentivize retail customers to invest – which likely includes airdrops.
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The guidelines, some of which were changed based on public feedback, place the onus
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