SFC Official: OTC Money Changers Not Regulated by SFC Under Current Framework
On September 19, Wong Lok-yan, Head of Fintech at Hong Kong's Securities and Futures Commission, stated at a press conference regarding the JPEX fraud case that publishing a list of virtual asset trading platforms currently applying for licenses could mislead the public into thinking these platforms are regulated. The SFC will maintain its arrangement of only publishing licensed virtual asset trading platforms. Wong declined to disclose how many virtual asset trading platform license applications have been received, noting that OTC money changers are not regulated by the SFC under the current framework.
On September 19, Wong Lok-yan, Head of Fintech at Hong Kong's Securities and Futures Commission (SFC), stated at a press conference held by Hong Kong police and the SFC regarding the JPEX fraud case that publishing a list of virtual asset trading platforms currently applying for licenses could mislead the public into thinking these platforms are regulated. The SFC will maintain its arrangement of only publishing licensed virtual asset trading platforms.
Wong declined to disclose how many virtual asset trading platform license applications the SFC has received to date, and noted that OTC money changers are not regulated by the SFC under the current regulatory framework.