Hong Kong regulators have been taking steps to regulate the cryptocurrency industry and provide greater oversight for trading activities. In November 2020, Hong Kong's Securities and Futures Commission (SFC) proposed new rules that would bring cryptocurrency trading platforms under its regulatory authority. The proposal includes requirements for licensing, due diligence measures, and capital and custody requirements. In addition, the SFC has issued guidance on security token offerings and has been monitoring the activities of cryptocurrency exchanges and initial coin offerings (ICOs) to ensure compliance with securities laws. As of April 2023, Hong Kong has a regulatory framework in place for cryptocurrency trading platforms, and licensed exchanges can offer trading of certain large-cap tokens to retail investors.
hopefully the ftx issue won't be repeated in hk
