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Hong Kong securities regulator updates crypto policies, citing market developments
The Securities and Futures Commission (SFC) of Hong Kong announced it will update its policies on virtual currency sales and requirements “in light of the latest market developments and enquiries from the industry.”
In an Oct. 20 notice, the SFC said that under the updated guidelines, certain virtual currency products will only be available to professional investors. In addition, intermediaries in the crypto space “should assess whether clients have knowledge of investing in virtual assets” prior to handling any transactions.
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