Hong Kong's Major Move: Crypto License Applicants Revealed After JPEX Scandal

Hong Kong's SFC will publish a list of all crypto licensing applicants after the JPEX probe.

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The JPEX case highlighted risks of unregulated platforms, per the SFC.

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It showed the need to enhance information to the public on unlicensed entities.

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Last week, Hong Kong's Chief Executive emphasized platforms should be SFC-licensed.

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More public education was pledged on crypto investment risks.

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Currently only 2 firms have been granted SFC crypto licenses.

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4 other lesser-known companies have applied but major exchanges have not.

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Publishing the applicant list will increase transparency on licensing status.

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This aligns with Hong Kong's aims to better regulate the crypto industry.

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