Hong Kong to Give Retail Investors Access to Crypto Starting June 1
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Main page News, Crypto Market, Regulations, Hong Kong

The Securities and Futures Commission (SFC) has revealed in a recent press release it received responses from public consultation on the proposed regulatory requirements for the local crypto firms.

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According to the statement on Tuesday, a "significant majority of respondents" agreed that retail investors in Hong Kong should have access to licensed trading platforms. The watchdog said it plans to implement a "number of robust measures" to keep investors from fraudulent activity, including ensuring suitability in the onboarding process, good governance, enhanced token due-diligence, disclosures and so on.

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The SFC added its guidelines for crypto exchanges will become effective starting June 1, 2023. The guidelines will explain how crypto platforms should hold and segregate crypto in custody, avoid conflicts of interest and comply with cybersecurity standards.

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