Hong Kong Says Its Crypto Regulations Will Shun Any ‘Light Touch’ Approach
- A licensing regime for crypto exchanges is due to start June 1
- Hong Kong Monetary Authority head says rules will be ‘tight’
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Hong Kong indicated that crypto companies drawn by the city’s push to create a digital-asset hub should expect an exacting regulatory regime.
“Our regulation will be tight,” Hong Kong Monetary Authority Chief Executive Eddie Yue said in an interview at the Bloomberg Wealth Asia Summit on Tuesday. “We will let them create the ecosystem here and that actually brings a lot of excitement. But that doesn’t mean light-touch regulation.”