Buckle up, folks! Hong Kong’s financial watchdog, the SFC, is on a mission to whip the crypto industry into shape. 🤑 With a budget boost and a team of crypto-savvy enforcers, they’re about to turn the city into a virtual asset wonderland (or a nightmare, depending on how you look at it). 🤯
According to the latest budget proposal, the SFC is adding 15 new positions, 8 of which will be dedicated to keeping a close eye on the crypto market. 👀 Looks like they’re not messing around when it comes to ensuring compliance and cracking down on any shady business. 🕵️♀️
But wait, there’s more! The SFC has already been busy uncovering a bunch of scam platforms pretending to be affiliated with HashKey, a licensed crypto exchange in Hong Kong. 🤥 Apparently, these fraudsters thought they could pull a fast one on unsuspecting investors, but the SFC was having none of it. 😤
So, if you’re a crypto firm operating in Hong Kong, you better watch your step! The SFC is about to turn up the heat and make sure everyone is playing by the rules. 🔥 Buckle up, because it’s going to be a wild ride! 🎢
Featured image created with DALL-E, Chart from TradingView
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2025-02-05 10:43