Hong Kong is pulling rank and is paying increasingly close attention to cryptocurrency funds. In a statement published earlier today, the Securities and Futures Commission (SFC) stated it would be putting cryptocurrency funds under its watchful eye. The SFC is the Hong Kong equivalent to the US’ Securities and Exchange Commission (SEC). The move to regulate and watch cryptocurrencies is supposed to increase protection for investors. It means that any investment funds based in Hong Kong (that deal specifically in “virtual assets”) will have to be licensed and registered with the SFC. The SFC defines “virtual assets” as pretty much…
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