Currently, crypto laws and regulations are inconsistent in Asian countries. The regulatory framework is fragmented and varied across the board. We break it down in this article:
Hong Kong
The Securities and Futures Commission of Hong Kong has so far granted licenses to any entity that offers crypto trading, provided they fall under the definition of “security” or “futures contracts.”announced plans to introduce a new licensing regime that will require all crypto exchanges to be licensed by the SFC and in compliance with AML and CFT regulations.
With such an increase in popularity, there has been an inevitable rise in the number of criminal activities like hacks and cyber scams; hence, the need towith more legal implications for those who operate within crypto-related businesses.