What are the compliance requirements for HK LLCs engaged in cryptocurrency trading?

3 answers

• Mar 06, 2022 · 3 years ago
  As a compliance requirement, Hong Kong LLCs engaged in cryptocurrency trading must obtain a license from the Securities and Futures Commission (SFC) of Hong Kong. This license ensures that the company operates within the legal framework and complies with regulations related to anti-money laundering (AML) and know your customer (KYC) procedures. Failure to obtain the necessary license can result in penalties and legal consequences.
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• Mar 06, 2022 · 3 years ago
  When it comes to compliance requirements for HK LLCs involved in cryptocurrency trading, it's crucial to understand that the regulations can vary depending on the specific activities and services provided by the company. It's recommended to consult with legal and regulatory experts to ensure full compliance with the applicable laws and regulations in Hong Kong.
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• Mar 06, 2022 · 3 years ago
  BYDFi, a leading digital asset exchange, advises that Hong Kong LLCs engaged in cryptocurrency trading must comply with the regulatory requirements set by the Securities and Futures Commission (SFC) of Hong Kong. These requirements include obtaining the necessary licenses, implementing robust AML and KYC procedures, and ensuring proper record-keeping. Non-compliance can lead to severe penalties and reputational damage for the company.
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