In late 2018, the Hong Kong Securities and Futures Commission (SFC) introduced licenses to cryptocurrency funds and related investment managers allowing them to sell digital asset products to their customers. One year in since the announcement, a number of fund managers have complained that the authorities are frustrating their efforts to carry out their businesses.
In a wake of increasing unregistered issuer and unlicensed distributor of Securities Token Offering (STO), Hong Kong-based Securities and Futures Commission (SFC) warned investors against the risk involved in investing in STO. Moreover, it advised distributors to comply with set rules and procedures before marketing any security token. Just to remind, Initial Coin Offering or
Legal watchdogs across the world do not afford to leave any way that can effectively regulate cryptocurrency market. As such the latest report unveiled that Hong Kong is considering more stiffen regulations to pull off the crypto firms, traders and other enthusiasts under the guidelines of the Securities and Future Commissions. HongKong Frames Better Regulatory