🔔 **Hong Kong Eyes New Crypto Licensing Regime!**

- Hong Kong’s Securities and Futures Commission (SFC) is considering a new licensing regime for cryptocurrency over-the-counter (OTC) services. 🧐

- The SFC plans to team up with the Customs and Excise Department (C&ED) to supervise these services, ensuring a safer trading environment.

- This move aims to regulate private crypto transactions, making the market more transparent.

- Meanwhile, the SFC has published an 'alert list' of suspicious or unlicensed crypto platforms targeting Hong Kong investors.

- As of June 1, operating an unlicensed virtual asset trading platform in Hong Kong is a criminal offense.

- Only two platforms, Hash Blockchain and OSL Digital Securities, are fully licensed so far.

Stay tuned for more updates! 🚀