Hong Kong SFC Unveils Consultative Panel for Licensed Crypto Exchanges
SFC Establishes Consultative Panel for Licensed Crypto Exchanges
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The Securities and Futures Commission (SFC) of Hong Kong has announced the establishment of a ‘Consultative Panel’ for licensed crypto exchanges. This panel will play a vital role in facilitating communication and collaboration between the SFC and the crypto industry within the region.
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According to Eric Yip, a representative of the SFC, the panel will comprise representatives from each licensed cryptocurrency exchange. This ensures a direct line of communication and allows for the sharing of insights and perspectives on key issues related to the crypto market.
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The panel’s establishment signifies the SFC’s commitment to fostering a robust and responsible crypto ecosystem in Hong Kong. It is expected to play a crucial role in addressing industry concerns, facilitating regulatory clarity, and promoting best practices among licensed crypto exchanges.
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This initiative follows the SFC’s recent move to grant licenses to cryptocurrency exchanges, signaling the regulator’s intention to create a framework for responsible crypto trading in the region.