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The regulator ordered seven crypto-currency exchanges of Hong Kong to withdraw from the auction a series of tokens

The Securities and Futures Commission of Hong Kong (SFC)  said that it has obliged seven crypto-exchange exchanges to withdraw from the auction a number of tokens that fall under the definition of securities. The names of the sites are not disclosed, but it is noted that they are all located in Hong Kong or linked to it and are included in the world top-20 in terms of trade.

This step is part of a larger SFC initiative to protect investors from the risks associated with the trade in crypto-currencies.

The regulator stressed that the last request could lead to further action, but at the moment all the notified exchanges provided an answer.

“Most of these crypto-exchange exchanges have confirmed that they do not provide trade services for these crypto-currencies or took immediate measures to remedy the violation, including the removal of relevant crypto-currencies from their platforms,” ​​the SFC said in a statement.

The commission also sent inquiries to seven ICO organizers, which attract investors from Hong Kong and whose tokens, according to the regulator, are securities.

In addition, the SFC has warned that it will not tolerate a repeated violation of the Hong Kong securities laws and will take appropriate measures.

In December, the Hong Kong financial controller warned of the risks associated with trading bitcoin futures.

The post The regulator ordered seven crypto-currency exchanges of Hong Kong to withdraw from the auction a series of tokens appeared first on 9 to 5 Live.



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The regulator ordered seven crypto-currency exchanges of Hong Kong to withdraw from the auction a series of tokens

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