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Hong Kong Just Unleashed a Crypto Tsunami: 11 Platforms About to Get Roasted by Regulators

Crypto NewsInstitutional InvestorsRegulation/Negotiation Kevin Nelson October 10, 2024

A illustration of Hong Kong's skyline with flames rising from it in shades of red and orange, representing the 'crypto tsunami'. In the foreground, three figures dressed as regulators are shown holding scales to balance fairness while a group of shadowy characters resembling crypto traders look on nervously. A clock is ticking away at the top right corner.

It’s official: Hong Kong has finally decided to join the ranks of other sane countries and create some semblance of regulation around its crypto scene. CEO Liang Fengyi announced that the full regulatory framework for digital assets is on track to be completed by next year, because who doesn’t love a good countdown? With 11 more platforms waiting in line to get licensed (and hopefully not throw their money away like so many other wannabe millionaires), it’s clear Hong Kong wants to make sure its crypto users aren’t getting fleeced. The SFC is also working on tokenization for traditional products, which sounds fancy but basically means making old stuff shiny again.

Source: bitcoin.com

Hong Kong's Crypto Framework Near Completion — 11 Platforms Awaiting Approval
https://news.bitcoin.com/hong-kongs-crypto-framework-near-completion-11-platforms-awaiting-approval
Hong Kong’s Securities and Futures Commission (SFC) has confirmed that the full regulatory framework for digital assets is set to be completed by next year, according to CEO Liang Fengyi. She also noted that 11 more crypto platforms are in the process of applying for licenses, with the first round of assessments already finished. The Hong Kong Securities and Futures Commission (SFC) is marking its 35th anniversary this year, emphasizing […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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