Hong Kong Securities and Futures Commission announced that it will impose a licensing requirement on all cryptocurrency service providers in the country, otherwise it will close them all.
In its statement published today, the Securities and Futures Commission (SFC) warned investors in the country to trade only on licensed platforms. Within the scope of the warning, cryptocurrency service providers in the country to February 29 There was also an obligation for them to apply for licensing.
Among the world’s largest stock exchanges Thought to be related to OKX, Bybit and Binance In line with this request, including the stock exchanges, if the stock exchanges do not apply at least by the specified date to May 31 They will need to cease their activities by.
In this statement informing platforms and users, SFC underlined that transactions should be made from already licensed institutions or institutions that have applied for a license, and suggested that users who make transactions in institutions outside this scope should close their accounts now.
Hong Kong, which initiated licensing for cryptocurrency service providers in June 2023, provided this license to Hashkey and OSL companies. Apart from these two companies operating under license, 14 different cryptocurrency companies, including OKX and Bybit‘s applications are being actively evaluated.