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Hong Kong Unveils New Rules for Cryptocurrency Exchanges

Published 11/06/2019, 02:38 AM
Updated 11/06/2019, 07:01 AM
Hong Kong Unveils New Rules for Cryptocurrency Exchanges
BTC/USD
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Today, Hong Kong’s financial regulator — the Securities and Futures Commission (SFC) — has published a new set of regulations for Bitcoin (BTC) and cryptocurrency exchanges. The initial announcement, reported by Reuters, was made by Chief Executive Ashley Alder at a local fintech event on Nov. 6.

The new requirements detail how exchanges much approach custody and compliance, particularly with regards to Know Your Customer (KYC) and Anti-Money Laundering rules. Specifically:

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