Hong Kong announced that the commission of securities and futures transactions (SFC) approved the provision of stinging services of licensed crypto asset exchanges. The aim of this service is to increase the security of blockchain protocols and to make users get return. The regulatory institution pointed out that various risk management measures should be taken in terms of the protection of investors. As the autonomous region of China, Hong Kong’s steps should be seen as China’s moves. After the US crypto -friendly steps, this move is remarkable.
Hong Kong Stinging approval
The SFC requires the application of measures to prevent errors that may occur in services related to services and to protect the virtual assets of customers. The institution stated that the correct disclosure of risks is a priority in raising awareness of investors.
SFC: “Preventing service -related errors, protection of customer virtual assets and correctly explained the risks.”
China and Crypto Coins
Last year, Hong Kong announced the approval of Bitcoin and Ethereum investment funds, while in November he announced his own “Virtual Asset Index Series .. These developments are interpreted as steps towards the diversification of the crypto existence ecosystem. These developments in the sector, new services on the regulatory ground to implement the ground is stated to prepare the ground.
SFC CEO Julia Leung said that the stinging service of licensed crypto asset exchanges is an important step in making progress in the sector. Julia Leung said that the expanding range of services will contribute to the healthy development of the ecosystem.
Julia Leung: “Additional services offered within the framework of the regulations are important for the healthy progress of the virtual asset ecosystem.”
The regulatory institution demands that service providers should focus on risk management measures in order to protect investors with the guidance they have issued. In this context, it is emphasized to ensure the security of customer assets and minimizing the errors associated with service.
In addition to potential benefits such as the implementation of Stinging services and increasing Blockchain security, it also brings some risks. The awareness of the raising awareness of investors and the transparency of the service processes are prominent in the approaches of sector actors.
This approved service is considered in parallel with the expansion of the regulatory frame in the crypto asset market in Hong Kong. The institution is expected to create a trust environment in the sector.
While the US is taking supportive steps for crypto currencies, these developments in the autonomous region of China are remarkable. If China starts to take such steps directly on the main land, the interest of Asian investors in crypto currencies may increase exponentially. Currently, Chinese investors continue to process intensively with crypto currencies through various channels.
The news reveals that regulations and market developments in the digital existence ecosystem should be brought to the fore. Investors are informed that they should take care of risk management and exchange of information while closely following regulatory developments.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
