Hong Kong Regulator to Unveil Exchange Licensing Guidelines Next Month

• Hong Kong plans to release guidelines on virtual asset exchange licensing in May.
• Afterward, investors can trade prominent tokens such as Bitcoin and Ethereum.
• Previously, the HK government allocated $50 million to expedite Web3 development

In an event on Thursday, the Hong Kong Securities and Futures Commission (SFC)’s CEO, Julia Leung, said the regulator is set to release guidelines on the licensing regime for virtual asset exchanges next month.

This update was captured in a Bloomberg report where Leung said the move follows a consultation process by the SFC that garnered over 150 responses from the public regarding the regulatory framework that will apply to crypto exchanges.

The new licensing regime for crypto platforms, which is set to be implemented by June 1, will allow retail investors to trade prominent tokens such as Bitcoin (BTC) and Ethereum (ETH). According to the SFC CEO, the regulator aims to develop a fair and effective regulatory framework that will protect investors and promote the development of the crypto industry in Hong Kong.

Additionally, the guidelines are expected to bring more clarity to the crypto industry in Hong Kong and p…

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