Amid recent crypto scandals in Hong Kong, a year-long grace period for crypto exchanges will persist, confirmed by Julia Leung, CEO of the Securities and Futures Commission, who highlighted the inevitability of fraud despite the grace period’s end. The city’s regulations mandate crypto exchanges to secure a VASP license by June 2024, permitting interim operation for unregistered exchanges, amidst scandals involving JPEX’s collapse, Hounax’s alleged Ponzi scheme, and ongoing licensing pursuits by HKVAEX and BC Technology Group.
Crypto exchange grace period to remain unchanged in Hong Kong despite scandals
