Day: June 30, 2025
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Hong Kong Cracks Down on OTC Crypto Platforms — Jail Time & Millions in Fines for Unlicensed Operators
On June 27, Hong Kong’s Financial Services and the Treasury Bureau (FSTB) and Securities and Futures Commission (SFC) jointly released a consultation paper announcing a mandatory licensing regime for all platforms offering crypto-to-fiat services — including OTC shops and platforms.