Hong Kong securities regulator warns of ‘prison’ exercise by unlicensed exchanges

The Securities and Futures Fee (SFC) of Hong Kong issued a discover about unlicensed digital asset buying and selling platforms “participating in improper practices,” warning of potential prison costs.

In an Aug. 7 discover, the SFC mentioned sure buying and selling corporations had falsely claimed to have submitted functions for licenses in Hong Kong. The securities regulator mentioned ought to the businesses truly apply to function legally within the particular administrative area, it will think about any false statements in addition to potential prison costs.

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