The post Hong Kong’s SFC Proposes New Licensing for OTC Crypto Services appeared first on Coinpedia Fintech News
Hong Kong’s Securities and Futures Commission (SFC) is contemplating a new licensing regime for over-the-counter (OTC) cryptocurrency services and gathering industry players’ feedback. This proposed regulation aims to bring OTC trading under the SFC’s oversight in collaboration with the Customs and Excise Department. The SFC has flagged unlicensed crypto platforms in an alert list, intensifying scrutiny as Hong Kong seeks to enhance its status as a global crypto hub. The new regime could reshape the OTC trading landscape, enhancing regulatory oversight in the region.