Hong Kong's regulator finds "unsatisfactory practices" at some crypto exchanges seeking full licenses
Hong Kong's Securities and Futures Commission (SFC) has discovered "unsatisfactory practices" during on-site inspections of some cryptocurrency exchanges that are seeking full licenses. This may lead to the cancellation of temporary licenses granted to 11 applicants for full licenses, potentially impeding Hong Kong's efforts to become a global hub for crypto. According to sources familiar with the matter, Bloomberg reported on Thursday that "some" of the exchanges were found to have unsatisfactory practices.
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