Futu Securities International, Hong Kong’s largest online broker with 21.64 million users, has launched retail cryptocurrency trading. Hong Kong residents can now trade bitcoin and ether in either Hong Kong or U.S. dollars directly through Futu’s platform. “We are actively working on expanding our crypto offerings in the near future,” the company said. Last month,…
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The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning regarding Proxinex, an entity suspected of virtual asset-related fraud. Investors have encountered issues withdrawing virtual assets from Proxinex, later being informed that their accounts were nonexistent. The SFC suspects Proxinex enlisted an agent to attract investors through dating apps, possibly using…
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The Hong Kong Securities and Futures Commission (SFC) has issued a reminder that crypto trading platforms must obtain a license to operate in Hong Kong before the grace period ends on June 1. The regulator warned that operating without a license is a criminal offense and will enforce compliance. Investors are advised to only trade…
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The Hong Kong Securities and Futures Commission (SFC) has warned the public regarding Quantum AI, an entity allegedly engaged in fraudulent activities related to virtual assets and impersonating Elon Musk. Quantum AI claims to leverage artificial intelligence technology to provide cryptocurrency trading services. However, the Hong Kong SFC has raised suspicions that Quantum AI deceived…
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The Hong Kong Securities & Futures Professionals Association (HKSFPA) advocated establishing a self-regulatory committee within the city’s crypto firms to enhance compliance monitoring on April 22. “Many economically developed regions in the world have established statutory semi-official industry self-regulatory institutions to focus on industry development,” Hong Kong regulators wrote. HKSFPA Calls for Industry-Led Licensing Authority…
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Hong Kong’s Securities and Futures Commission (SFC) cautioned crypto traders about using cryptocurrency exchange Bybit on March 14, defining 11 Bybit products as suspicious investments while listing the exchange among unlicensed operators. Hong Kong SFC’s Warning on Bybit Bybit has come under the scrutiny of Hong Kong’s SFC in what seems to be the latest…
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Unlicensed cryptocurrency platforms will not be allowed to operate in Hong Kong starting next June, according to the Securities and Futures Commission (SFC). The commission closed the period for these institutions to introduce their applications to obtain a license on February 29 and will progressively expel the noncompliant exchanges from the Hong Kong market. Hong…
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Source: Pixabay Hong Kong’s investment management firm, Victory Securities has obtained approval to offer digital asset services to retail clients expanding the country’s number of cryptocurrency licences. In a Nov 24 press release, the company made the announcement that it obtained a license from the Securities and Futures Commission (SFC) to offer digital asset services…
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The securities regulator and the central banking institution of Hong Kong have updated the region’s crypto policy in response to enquiries from the industry. In a circular on the virtual asset-related activities of intermediaries, the authorities introduced additional measures to protect retail investors, restricting their access to what they describe as “complex products.” Hong Kong…
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The joint group was established in light of the ongoing crypto scandal in Hong Kong involving the JPEX crypto exchange. The Hong Kong Police Force (HKPF) and the Securities and Futures Commission (SFC) have set up a crypto-focused working group to deal with illicit crypto exchange activities. In an Oct. 4 statement, the SFC said…
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