Hong Kong Crypto Exchanges Face Challenges to Get Full Licenses !!

According to a Bloomberg report, Hong Kong's Securities and Futures Commission (SFC) found "unsatisfactory practices" at "some" of the cryptocurrency exchanges seeking a full license from it after conducting on-site inspections.

There is now uncertainty over whether all 11 crypto exchanges will achieve full licenses.

The report states that the regulator found some of the crypto firms overly reliant on a handful of executives to oversee the custody of client assets. It also states that others were not properly guarding against cybercrime risks.

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