• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Crypto Regulation in Hong Kong: Dual Licensing System Alters the Market

user avatar

by Giorgi Kostiuk

3 months ago


A recently published report by the People’s Bank of China highlights global trends in cryptocurrency regulation, addressing challenges posed by unregulated sectors. Hong Kong's proactive licensing approach is emphasized as it seeks to align with international standards.

China's Financial Stability Initiative

The People's Bank of China stresses the importance of focusing on unregulated financial market segments to maintain financial system stability. Hong Kong's decision to actively manage crypto-asset licenses is viewed as a significant positive step towards aligning with global trends.

Dual Licensing in Hong Kong

Hong Kong employs a dual licensing system to properly regulate virtual assets. Securitized financial assets fall under the Securities and Futures Ordinance, while non-securitized tokens are regulated by the Anti-Money Laundering Ordinance. Banks like HSBC and Standard Chartered are required to regularly check on crypto exchanges, which assists in reducing potential risks and promoting openness.

Global Tightening of Crypto Regulations

The report highlights regulatory changes in over 51 countries that have enacted bans or stricter rules for crypto assets. In the US, the Securities and Exchange Commission (SEC) increased scrutiny, rejecting numerous [Bitcoin ETF](https://cryptofrontnews.com/bitcoin-etf-growth-and-political-chaos-reasons-why-btc-could-surge-to-200k-by-2025/) applications until approving a spot ETF in 2024. The European Union has adopted the Crypto-Asset Market Regulation Act to create uniform rules by the end of 2024. The UK and Singapore also introduced unique steps for digital asset regulation.

The global community continues to move towards stricter and more consistent crypto regulations. This is aimed at enhancing financial system stability and minimizing risks.

0

Share

Other news

Polygon Labs: End of 'AOL Era', Start of a New Crypto Age

Polygon Labs marks the end of the 'AOL era' in the crypto industry, paving the way for more advanced and efficient blockchain solutions.

user avatarGiorgi Kostiuk

a few seconds ago

Ted Cruz Proposes Bill for Using Flared Gas in Bitcoin Mining

Ted Cruz's bill aims to use flared gas in bitcoin mining for reducing emissions and enhancing efficiency.

user avatarGiorgi Kostiuk

a minute ago

Ethereum Leads DEX Volume Again, Surpassing Solana and BNB Chain

Ethereum hits $16.43 billion in DEX trading volume, surpassing Solana and BNB Chain.

user avatarGiorgi Kostiuk

a minute ago

Cryptocurrency Market Shows Mixed Trends on April 2, 2025

Major cryptocurrencies showed gains and losses on April 2, 2025.

user avatarGiorgi Kostiuk

a minute ago

Top Crypto ICOs of 2023: Experts' Picks

Experts picked five promising crypto ICOs that might become successful investments by 2025.

user avatarGiorgi Kostiuk

2 minutes ago

Bitcoin Liquidations: What's Happening in the Market?

Bitcoin liquidations hit new highs amid market volatility, potentially paving the way for sustainable recovery.

user avatarGiorgi Kostiuk

2 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.