Hong Kong SFC enables licensed cryptic firms to provide placing services

The Hong Kong’s financial authorities officially allowed the crypto firms to provide customer support services. However, they must adhere to guidelines intended for the protection of users from related risks.

According to a notice Published Securities and Futures Commission 7. April, Cripto companies operating in the region that keep virtual trading platforms license Can offer putting on services. Although they must take the necessary measures to protect customers and fully discover potential risks associated with constant virtual means.

Which will be advocated Allows customers to generate yield through their crypt. This is done through “locking” cryptic funds within a certain period of time and accumulating interest from it. The platforms usually offer this function through a consensus consensus mechanism that creates returns and distributes it to investors.

Before companies can start offering services in their Hongkonth’s apartment, first must receive formal approval from SFC. Pre-written approval includes special requirements that the CRIPTO platforms must follow before they start providing services.

SFC claimed that he adjusted his circular frame in the means of virtual means to facilitate the commitment. One of the requirements is the mandate of companies that only partners with licensed Watps and authorized institutes for putting funds.

Hong Kong regulators aim to prioritize the priorities of the crypto industry

The Chief Executive Director of SFC, Julia Leung, said the expansion of its virtual guidelines for accommodation Cripto Stading Products is an important part of the growth in Hong Kong’s digital ecosystem of the digital means of Hong Kong’s digital ecosystem.

“But the expansion must be made in a regulated environment in which the security of the client’s virtual asset remains the front and center of compliance framework for offering such a service,” Leung said in her statement.

Hong Kong regulators make regulatory moves to speed up the growth of their crypto industry. By the end of 2024. year, the region was criticized For its slow licensing process that falls behind other Asian countries like Singapore.

Earlier today during Hong Kong Festival Web3 2025, Government Hong Kong announced that they will run soon Stablecoin Legislation In addition to licenses for licenses for excessive transactions and detention Companies. Moreover, it aims to allow and licensed place ETFS to provide placing the service.