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.
The JPEX case highlighted risks of unregulated platforms, per the SFC.
It showed the need to enhance information to the public on unlicensed entities.
Last week, Hong Kong's Chief Executive emphasized platforms should be SFC-licensed.
More public education was pledged on crypto investment risks.
Currently only 2 firms have been granted SFC crypto licenses.
4 other lesser-known companies have applied but major exchanges have not.
Publishing the applicant list will increase transparency on licensing status.
This aligns with Hong Kong's aims to better regulate the crypto industry.