The Hong Kong government issued a crypto policy statement that clarified its plans to develop “a vibrant sector and ecosystem” for the nascent industry on October 31.
The policy statement marks a key change for the government, which had recently revealed intentions to allow retail traders to invest directly in crypto.
Hong Kong crypto regulations
The authorities have launched a regulatory body that licenses virtual asset exchanges using an “opt-in” approach. The statement continued that the government has also provided guidance for banks and other financial institutions giving crypto-related products.
According to the policy statement, licensed exchanges would operate in compliance with necessary anti-money laundering, counter-terrorist financing (AML/CTF), and investor protection laws. This would allow them “to access a wider net of investors in the Hong Kong market.”
Hong Kong’s Securities and Futures Commission (SFC) will conduct a public consultation to determine the

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