Hong Kong securities regulator to propose ‘sandbox’ for crypto exchanges

HONG KONG (Reuters) – Hong Kong's Securities and Futures Commission (SFC) will propose a regulatory regime known as a “sandbox” for crypto exchanges, its chief Ashley Alder said on Thursday.

“Sandboxes” typically afford fintech firms special regulatory waivers for a limited period of time.

In February this year, the regulator said it would crackdown on cryptocurrency exchanges that operate in the Asian financial hub without a license or violate local securities laws.

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