Hong Kong Takes Regulatory Action On Cryptocurrencies

Law360 (February 9, 2018, 8:55 PM EST) -- Hong Kong securities regulators said Friday they had issued formal warnings to seven cryptocurrency exchanges and seven issuers of initial coin offerings, beginning to put teeth into a cryptocurrency crackdown announced in September.

The seven exchanges, all “in Hong Kong or with connections to Hong Kong,” received letters telling them to stop trading unlicensed cryptocurrencies that meet the regulatory definition of securities, Hong Kong's Securities and Futures Commission said in Friday's statement.

“Most of these cryptocurrency exchanges either confirmed that they did not provide trading services...
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