In Addition To The Amlo, There Are Also Hong Kong Monetary Authority (Hkma) Regulations Guidelines For Cryptocurrency Obliged Entities Operating In Hong Kong.
Another step towards the regulation of cryptocurrency in hong kong: On 12 january 2022, the hong kong monetary authority (hkma) released a discussion paper on the expansion of the hong kong regulatory framework to stablecoins (e.g. The rapid growth and adoption of cryptocurrencies require ruling, so it does not bring the financial system at risk, hkma wrote.
The Hkma Concluded The Report By Making An Observation Very Common To Regulatory Authorities:
Hong kong has gone from having minimal regulation of cryptocurrencies to where the government now plans to outlaw retail crypto trading and investing. The hkma refers to bitcoin mainly as a “cryptocurrency” in their november 2016 “whitepaper on distributed ledger technology.” the same goes for the “whitepaper 2.0” published october 2017. What cryptocurrency to invest in 2022 hong kong what cryptocurrency to invest in 2022 hong kong.
One Final Word Of Caution Though.
The hong kong monetary authority (hkma) has said that it does not regulate cryptocurrencies such as bitcoin which it regards as a virtual “commodity” and not as legal tender, or a. Hong kong’s cryptocurrency regulations for exchanges are soon set to change. Our work newsletters podcasts news and events;
These Guidelines Show How Obliged Firms Can Comply With The Amlo And Other Ordinances, In A Similar Fashion To The Uk’s Jmlsg Guidelines.
The regulation will help to improve hong kong’s financial stability. This terminology puts it more in line with international organizations and in our opinion does not represent a policy shift. The rapid growth and adoption of cryptocurrencies require regulation, so it does not put the financial system at risk, hkma wrote.
These Include Some Very Obscure Ones, So If You Are Looking For Something More Particular, This Might Be The Place For You.hong Kong Regulator Imposes New Rules For Cryptocurrency From Cryptochronicle.comjan 7, 2022 3:38 Pm Est.
4, 2019) on march 18, 2019, the hong kong monetary authority (hkma) issued a circular endorsing a statement on cryptoassets made by the basel committee on banking supervision (bcbs). November 9, 2021 by oln marketing. In november of 2020, the securities and futures commission (sfc) announced a consultation period for a new, far more stringent, regulatory regime for cryptocurrency exchanges.