🌏 Hong Kong is stepping up its game in the world of cryptocurrency 🌐. The government is considering a new licensing regime specifically for over-the-counter (OTC) crypto trading 💱. OTC services let people buy and sell digital assets privately, but the new plan means tougher rules 📜.
Under this proposal, the Securities and Futures Commission (SFC) and the Customs and Excise Department (C&ED) will work together 🤝 to oversee these services 🧐. This includes ensuring compliance with anti-money laundering (AML) 🕵️‍♂️ and counter-terrorist financing (CTF) laws. In short, anyone providing these services will need to get a proper license ✅.
This move is part of Hong Kong's bigger ambition to become a global crypto hub 🚀, attracting investments and building a robust digital assets industry 💰. With only a few fully licensed platforms 🏢 like Hash Blockchain and OSL Digital Securities, the city is taking strong steps to ensure a safer, more regulated environment for crypto traders 💼.
Stay tuned as Hong Kong pushes the boundaries of crypto regulation, making it both innovative 💡 and secure 🔐!
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$USDC

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