Sfc Warns Of Cryptocurrency

Sfc warns of cryptocurrency

SFC warns of cryptocurrency risks. 9 Feb The Securities and Futures Commission (SFC) once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs). Following a statement on ICOs released on 5 September (Note 1), the SFC has taken regulatory action against a. SFC Warns of Cryptocurrency Risks Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), issued a statement warning investors of cryptocurrency risks related to cryptocurrency exchange trading and buying into initial coin offerings (ICOs) on 9 February SFC warns of cryptocurrency risks 9 Feb The Securities and Futures Commission (SFC) once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs).

· The Securities and Futures Commission (SFC) once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs). The Hong Kong SFC once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs). The SFC has sent letters to seven cryptocurrency exchanges in Hong Kong or with connections to Hong Kong warning them that they should not trade cryptocurrencies which are "securities" as.

The Securities and Futures Commission (SFC) once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs). Following a statement on ICOs released on 5 Septemberthe SFC has taken regulatory action against a number of cryptocurrency exchanges and issuers of ICOs.

· On February 9,the Hong Kong Securities and Futures Commission (“SFC”) published an alert to investors in cryptocurrency trading and initial coin offerings (“ICOs”), warning of the risks of extreme price volatility, hacking and fraud.

The SFC warned cryptocurrency exchanges and ICO issuers to refrain from conducting regulated activities by dealing in cryptocurrencies or. · The SFC warned cryptocurrency exchanges and ICO issuers to refrain from conducting regulated activities by dealing in cryptocurrencies or offering tokens which are considered “securities” under the Securities and Futures Ordinance (Cap. The SFC says it has sent letters to seven cryptocurrency exchanges in Hong Kong warning them that they should not trade cryptocurrencies which are “securities” without a licence.

The cryptocurrency segment continues to be at the focus of regulatory attention. The Securities and Futures Commission (SFC) notes with concern the growing investor interest in gaining exposure to virtual assets via funds and unlicensed trading platform operators in Hong Kong.

The SFC has identified significant risks associated with investing in virtual assets and these are set out below. The SFC issued a Position Paper: Regulation of Virtual Asset Trading Platforms (SFC Position Paper) on 6 Novembersetting out new regulations for licensing cryptocurrency exchanges with a strong emphasis on investor protection issues including custody of virtual assets, anti-money laundering obligations and obligations on licensed platforms to ensure that professional investors to whom.

Against this background the SFC issued a clear warning to investors of risks arising in this market. Investors should be aware of the risks of hacking and misappropriation of assets and the difficulties for victims to pursue action against cryptocurrency exchanges or fraudsters to recover losses where the activities took place in an online.

BRIEF-Hong Kong SFC Warns Of Cryptocurrency Risks.

Sfc warns of cryptocurrency

Read full article. February 8,PM. Feb 9 (Reuters) - Hong Kong's Securities and Futures Commission: * SAYS IT WARNS OF CRYPTOCURRENCY. SFC Warns of Cryptocurrency Risks The SFC sent letters to seven cryptocurrency exchanges in Hong Kong notifying them that they should not trade cryptocurrencies which are securities as defined under the SFO unless they are licensed by the SFC.

Sfc Warns Of Cryptocurrency. Statement On Regulatory Framework For Virtual Asset ...

SFC’s statement follows denial by Binance, one the largest cryptocurrency exchanges in Hong Kong, that the platform has been hacked after it temporarily suspended the trade on February 9. The exchange cited system upgrade for the suspension.

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The Securities and Futures Commission (SFC) once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs). Following a statement on ICOs released on 5 Septemberthe SFC has taken regulatory action against a number of cryptocurrency exchanges and issuers of ICOs. The SFC has sent letters to seven cryptocurrency. · The SFC said that in terms of daily trading volume, a number of cryptocurrency exchanges in Hong Kong – or which have connections with Hong Kong – rank in the top 20 globally.

Alder urged “market Author: Enoch Yiu. On 9 Februarythe Securities and Futures Commission (the “SFC”) issued a statement (the “Statement”), cautioning investors again of the potential risks of investing in cryptocurrencies and initial coin offerings (“ICOs”) and using the services of cryptocurrency exchanges. In this regard, it warned investors of the heightened risk of extreme price volatility, hacking and fraud. The Securities and Futures Commission (SFC) once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs).

Sfc warns of cryptocurrency

Following a statement on ICOs released on 5 September (Note 1), the SFC has taken regulatory action against a number of cryptocurrency exchanges and issuers of ICOs. In contrast, while Hong Kong's Securities and Futures Commission (SFC) launched a regulatory framework specifically for cryptocurrency trading platforms last year, this was restricted to those.

Cryptocurrency Securities | CryptoCoins Info Club

SFC warns crypto exchanges against unlicensed trading of securities. The authority notes that ICOs are usually structured to escape regulatory scrutiny. As the number of cryptocurrency exchanges with links to Hong Kong rise to the global top 20, the Securities and Futures Commission issued warnings to seven cryptocurrency exchanges in Hong Kong. On 9 Februarythe Securities and Futures Commission (the "SFC") issued a statement (the "Statement"), cautioning investors again of the potential risks of investing in cryptocurrencies and initial coin offerings ("ICOs") and using the services of cryptocurrency xn--80aaemcf0bdmlzdaep5lf.xn--p1ai this regard, it warned investors of the heightened risk of extreme price volatility, hacking and fraud.

Hong Kong SFC all set to tighten Cryptocurrency Laws

· Hong Kong's financial markets and services provider regulator, the Securities and Futures Commission (SFC) has issued a warning against trading in Bitcoin futures through unregulated intermediaries. In its circular, published just a day after the world's largest largest options exchange CBOE launched trading in the first Bitcoin futures and the pending launch of similar products by CME. · The SFC said the profile of financial fraud is changing as more people are being targeted online, moving away from the traditional cold call.

Fraudsters are now contacting people through a range of popular social media sites, such as Facebook, Instagram, WeChat, Whatsapp, Telegram and even online dating platforms. The SFC has not issued a full licence to any exchange, but has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities, a unit of Fidelity-backed BC group. HK>, OSL said in August. (Reporting by Alun John; Editing by Jacqueline Wong). The SFC has already taken regulatory action against a number of cryptocurrency exchanges and issuers of ICOs following the first warning statement it released on September 5, "We will continue to police the market and enforce when necessary.

Sfc hong kong Bitcoin - When, Why, How & WARNING SFC Cryptocurrency Framework regulation - Coin Mean Hong. of the SFC, Ashley a new cryptocurrency regulatory Crypto Regulation. The CEO platforms with operations the is HK's Securities and framework Hong Kong SFC Kong's Securities and Futures its cryptocurrency fund in Kong's SFC says will Kong's Securities and Futures up Hong.

SFC warns Hong Kong crypto currency exchange platforms Feb 9, Hong Kong's Securities and Futures Commission (SFC) has tightened grip on the crypto currency exchanges and is planning to regulate the trade of Initial Coin Offerings (ICOs).

· Hong Kong’s Securities and Futures Commission (SFC) revealed it sent several warning letters to cryptocurrency exchanges involved with initial coin offerings (ICO).

Hong Kong’s current stance on cryptocurrency is a stark contrast to the more hardline approach taken by mainland China.

As Hong Kong is one of the world’s leading financial epicenters, the SFC is geared to reevaluate cryptocurrency laws, especially in terms of regulating the Initial Coin Offering (ICO) sector. SFC warns of social media ‘pump-and-dump’ scams. Read also: US Regulator Issues Cryptocurrency Pump And Dump Schemes Warning. At the time, the move was considered unusual as such investigations would fall under the remit of the SFC which only.

· Hong Kong takes action against cryptocurrency exchanges and ICO issuers Hong Kong's securities regulator has stepped up its efforts to regulate the cryptocurrency market. In a statement, the Securities and Futures Commission (SFC) has revealed that it has written to seven cryptocurrency exchanges, warning them that t.

SFC warns Hong Kong crypto currency exchange platforms

· AAX Cryptocurrency Exchange launches in Hong Kong amid SFC warning This launch came just a day after Hong Kong’s securities regulator announced new guidance for the domestic crypto exchanges. Furthermore, the Securities and Futures Commission (SFC) indicated that cryptocurrency trading linked to security offering or futures contracts will now. 27 Press Release, SFC, SFC Warns of Cryptocurrency Risks (Feb. 9, ), Source Link, archived at Source Link. 28 Id. 29 Press Release, Government of Hong Kong, LCQ4: Regulation of Trading Activities of Bitcoins (Mar.

25, ), supra note 30 Id. · The U.S. Securities and Exchange Commission is looking to apply securities laws to everything from cryptocurrency exchanges to digital asset storage companies known as wallets.

trending; Cryptocurrency Securities Cryptocurrency. Cryptocurrency Securities. DTN Staff. twitter. pinterest. google plus. The Securities and Futures Commission (SFC) in Hong Kong warns about a new trend in online scams, where con artists are using fake social media profiles to entice investors to buy small cap or less liquid stocks, causing the price of the targeted stock either to raise.

· 24 Press Release, SFC Sets out New Regulatory Approach for Virtual Assets (Nov. 1, ), supra note 25 SFC, Statement on Initial Coin Offerings (Sept. 5, ), Source Lin k, archived at Source Link. 26 Id.

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27 Press Release, SFC, SFC Warns of Cryptocurrency Risks (Feb. 9, ), Source Link, archived at Source Link. 28 Id.

SFC Warns of Cryptocurrency Risks - Charltons Quantum

On February 9,the Hong Kong Securities and Futures Commission ("SFC") released a statement which, among other things, informs the marketplace that the SFC sent letters to seven Hong Kong cryptocurrency exchanges warning against listing instruments that qualify as "securities" under the Securities and Futures Ordinance ("SFO") without a required license.

· Bangladesh Bank issued a warning against conducting transactions in cryptocurrency, and reportedly stated that such use is punishable by up to 12 years in jail (SFC. The SFC had warned cryptocurrency exchanges in Hong Kong or with connections to Hong Kong that they should not trade cryptocurrencies that are “securities” as defined in the Securities and Futures Ordinance without a license.

The SFC had written to ICO issuers and most of them confirmed compliance with the SFC’s regulatory regime or. Hong Kong’s Securities and Futures Commission (SFC) has issued a statement cautioning investors about WikiFX, which operates an inquiry platform about FX brokers and IBs. The SFC has not issued a full licence to any exchange, but has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities, a unit of Fidelity-backed BC group (HK: The warning comes on the back of newly-detailed regulatory proposals to govern the wider virtual asset exchange industry.

BeInCrypto reported earlier today on a speech given by SFC Chief Executive Officer, Ashley Alder during Hong Kong FinTech Week Existing Regulations and Cryptocurrency.

Cryptocurrency payments typically are not reversible. Once you pay with cryptocurrency, you only can get your money back if the seller sends it back. Before you buy something with cryptocurrency, know a seller’s reputation, where the seller is located, and how to contact someone if there is a problem. Refunds might not be in cryptocurrency. · Hong Kong’s Securities and Futures Commission (SFC) on Thursday November 1,announced new rules targeting cryptocurrency investors and exchanges which proposed a regulatory sandbox to cryptocurrency regulation in the island nation.

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Details are now emerging about what the “sandbox approach” will really involve and cryptocurrency. · The SFC has not issued a full licence to any exchange, but has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities, a unit of Fidelity-backed BC group (HK), OSL said in August.

Dozens of cryptocurrency exchanges operate in Hong Kong, including some of the world's largest, though many chose not to apply for a licence under the existing regime. The SFC has not issued a full licence to any exchange, but has agreed in principle to issue a licence to cryptocurrency firm OSL Digital Securities, a unit of Fidelity-backed BC.

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