Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1st

Under the regulations, crypto exchanges are required to maintain at all times not less than 5,000,000 Hong Kong Dollars ($640,00) in capital, and at the end of each month, submit a summary of the platform’s available and required liquid capital, bank loans, to the SFC. advances, credit facilities as well as profit and loss analysis. Tokens accepted on regulated exchanges are required by law to have a 12-month “track record”.