Hong Kong Seeks Input On OTC Crypto Trading Rules
Hong Kong is launching a consultation on regulating over-the-counter (OTC) crypto trading, aiming to establish a licensing framework for virtual asset OTC services.
Operators must obtain licenses and comply with anti-money laundering and counter-terrorist financing rules.
The Commissioner of Customers and Excise will enforce the regime, while Virtual Asset Trading Platforms (VATPs) are exempt.
The government aims to create a transparent regulatory environment for the sustainable development of VA and Web3.
Written comments on the consultation will be accepted until April 12. as a global financial hub, looking to tap into growing industry interest and investment.
(With inputs from Shikha Singh)
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