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Hong Kong's New Crypto Regulation: Will It Attract the Industry? - Ep. 505
Unchained
The Regulations for Cryptocurrency Exchanges
The regulations are encouraging because they actually mimic quite exactly what the traditional security law in Hong Kong serves. The tokens need to have a 12-month track record including in certain two indexes, I think at least two indexes. 98% of the coins need to be held in cold storage which I think is a really great regulation. One thing pretty interesting is they always require the platform operator to do the diligence. So you never think about you as a company getting a license and you could do whatever. You basically have the judiciary toDo the diligence, same as any kind of broker.
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