The Hong Kong Securities and Futures Commission (SFC) plans to introduce new rules for the cryptoindustry, reports Finance Magnates, citing the Japanese edition of the Nikkei.
In particular, if 10% of the assets of companies are contained in a cryptocurrency, then they should receive a special license from the SFC. Also, these firms will be able to offer cryptocurrency products only to qualified investors.
In addition, the new rules provide for tougher regulations in relation to the scope of ICO. Thus, the SFC intends to prohibit an ICO if the campaign initiator token was released less than 12 months before the start of the tokensale. Considering that the purpose of the ICO is precisely the launch of tokens, it is not known how this requirement will work in practice.
Recall that in November the SFC announced the rules for cryptocurrency funds.