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posted 4 weeks ago
The success of a crypto project often hinges on selecting a jurisdiction with advanced technological infrastructure and clear regulatory frameworks from governmental bodies. Hong Kong is one such jurisdiction that presents significant opportunities for startups and crypto activities in East Asia.
If you are interested in obtaining a Hong Kong Digital Currency License, the qualified experts at SBSB Fintech Lawyers are ready to assist, providing a full range of services from document preparation to legal support post-registration.
Hong Kong is one of the world leaders in terms of “cryptocurrency readiness”, which attracts a flood of investment from around the world and creates a good business environment.
The jurisdiction’s popularity is due to several key factors:
Choosing to register your company in Hong Kong is a strategic decision. The legal experts at SBSB Fintech Lawyers will help you select the optimal license type for your project and provide support at all stages of the licensing process.
Presently, the Securities Futures Commission (SFC) oversees cryptocurrency regulation in Hong Kong. The latter is responsible for issuing licenses to entities offering virtual asset services (VASPs). While financial regulators shape the cryptocurrency legal framework in Hong Kong, they maintain strict control.
The jurisdiction strictly adheres to legislative norms related to anti-money laundering (AML) and countering the financing of terrorism (CFT). Hong Kong cryptocurrency compliance involves developing and implementing AML and Know Your Customer (KYC) policies, ensuring the prevention of money laundering risks and securing transactions and user funds on legally operating crypto exchanges.
As of now, virtual currencies are officially considered “virtual commodities” in Hong Kong, usable for exchange, storage, purchase, transfer, or sale. It is expected that Hong Kong Blockchain Laws will be enacted in the near future, including provisions on the use of stablecoins as a means of payment.
To obtain a crypto license in Hong Kong, certain requirements must be met, including:
Crypto licensing and digital currency authorization in Hong Kong imply several stages:
Our experts can provide you with all the needed information regarding licensing and crypto trading regulations in Hong Kong.
The regulator requires the following document package for the registration process:
The cost of each project needs to be negotiated individually. Expenses for obtaining a cryptocurrency license in Hong Kong can vary based on factors such as the complexity of your business model, license type, and the range of services covered by the licensing functionality. Consider that the final amount also depends on administrative fees and payment for legal services. Contact our specialists for more detailed information!
Since 2013, the team of qualified specialists at SBSB has been providing legal services for the crypto business. Our professional approach and comprehensive support for turnkey projects, both before and after their launch, enable clients to navigate the licensing process as efficiently as possible. We will help you obtain a license while simplifying the procedure and taking care of all bureaucratic issues and organizational aspects.
Leave a request for consultation, and we will contact you to discuss your project!
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