Hong Kong Crypto Exchange Founder Taken Amid China’s Crackdown on Fraudulent ...
The platform will close all its over-the-counter (OTC) trading services because of the risks related to uncertainties from China’s regulatory policies/
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Chinese authorities are launching a national crackdown against fraudulent SIM card and bank account schemes. The latest detained under this operation is one of the founders of a Hong Kong-based cryptocurrency exchange CEO Global (ceobi). Crypto Exchange Founder Taken Into Custody by Chinese Police Amid Nationwide Crackdown According to an announcement published by CEO Global, one of its founders had been taken under custody by China’s authorities in the midst of an ongoing investigation that involves alleged participation in a fraudulent bank account and SIM card scheme. The....
While crypto exchange Binance continues to face crackdowns from several different countries, it’s looking likely that stock tokens may be behind this. Hong Kong And Lithuania Become The Latest To Crackdown On Binance On Friday, Hong Kong’s market regulator, the Securities and Futures Commission (SFC), warned the crypto exchange in a press release. The commission […]
In what seems like a further crackdown on freedoms in Hong Kong, the Securities and Futures Commission (SFC) said Bitcoin exchanges operating in the territory should be subject to licensing. The SFC proposal seeks to enforce the ruling by levying heavy fines and tough prison sentences on non-compliant persons. The Hong Kong government also confirmed […]
Non-futures crypto products like Grayscale Bitcoin Trust are reportedly still available on Futu Securities. A major Hong Kong-based online brokerage firm has reportedly suspended cryptocurrency futures trading due to regulatory concerns.Futu Securities, one of the biggest trading brokerages in Asia, has halted support of crypto futures contracts and trading services in response to regulatory requirements, Chinese financial publication Sina Finance reports Thursday.The platform’s customer service reportedly stated that the suspension will affect major contracts including CME Bitcoin....
Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....