World’s dominant crypto futures market could face regulatory shake-up

World’s dominant crypto futures market could face regulatory shake-up


Proposed regulations targeting Hong Kong’s blockchain industry could have far-reaching consequences for the crypto derivatives market, according to new research from Messari.io. 

In a report published on Wednesday, researcher Mira Christanto said the Special Administrative Region of Hong Kong, which happens to be the dominant market for crypto futures trading, could be clamping down on unregulated exchanges as part of a broader push for more governance.

The researcher cited a recent proposal from the Hong Kong Securities and Futures Commission, or SFC, that would require all crypto businesses to fall under anti-money laundering rules. This is a significant departure from just one year ago when the SFC announced it would only regulate companies in the ‘securities’ space.

Trending: What Was In Those Bush Sr. Funeral Envelopes and Why Did Mike Pence Get One?

Previously, the SFC only regulated assets that meet the legal definition of securities or futures — a definition that excluded cryptocurrencies.

As Cointelegraph reported earlier this month, the Hong Kong government has proposed to bring all cryptoassets under the oversight of its

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Send this to a friend