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Tuesday

27 July 2021

Hong Kong Regulator Warns About Unregulated Cryptocurrency Trading Platforms and Binance – Regulation Bitcoin News

Hong Kong Regulator Warns About Unregulated Cryptocurrency Trading Platforms and Binance – Regulation Bitcoin News


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Hong Kong Regulator Warns About Unregulated Cryptocurrency Trading Platforms and Binance – Regulation Bitcoin News.

The regulator addressed Binance in particular, stating that the global crypto exchange may be offering trading services in “stock tokens” to Hong Kong investors.

The regulator noted that “In Hong Kong, stock tokens are likely to be ‘securities.’” For those that are considered securities, “marketing and/or distributing such tokens – whether in Hong Kong or targeting Hong Kong investors – constitute a ‘regulated activity’ and require a licence from the SFC unless an applicable exemption applies,” the announcement explains.

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