One must regulate something that has disruptive qualities, or they will lose all control, this is what is happening globally with cryptocurrency, and really indicates the potential velocity of change that digital currency is having on the way consumers spend money now, and will in the future, and Hong Kong is getting on this fast-moving ship.

We noted in recent exchange documents that regulation is sprouting in every corner as cryptocurrency is so disruptive, everyone needs to be ahead of the curve, this portends a dynamic change.

OKEX, a large Crypto Exchange based in Malta noted in a recent research report for users and followers wrote, “ A year ago, the SFC announced a regulatory sandbox amid providing a confined environment for Fintech companies to push forward for regulatory innovation. After a year at the latest HK FinTech Week, Ashley Alder, head of the SFC announced that the city’s securities watchdog has now established a new comprehensive set of regulations for cryptocurrency exchanges in Hong Kong. ”

OKEX noted in the report, “ Alder said the rules are ‘tailor-made’ for the crypto industry, covering all the key investor protection concerns including the safe custody of assets, KYC requirements, anti-money laundering, and market manipulation. Concepts that don’t exist in traditional financial markets like hot and cold wallets, forks, airdrops are also included.”

The report cited also, “Cryptocurrencies and virtual assets traded on an SFC-licensed platform will not be subject to the same kind of regulation which applies to traditional offerings of securities or investment funds. Besides, all licensed platforms must have insurance covering the risk of virtual assets being lost or stolen.”

He stressed that “Virtual assets have been moving further into conventional financial markets”, and highlighted stablecoins in particular, saying that some projects are “capable of being adopted extremely rapidly on a global scale” which have led “serious concerns among politicians and central bankers and financial regulators.”

Learn more at Market News First:
www.MN1.com | Be Truly Informed

One must regulate something that has disruptive qualities, or they will lose all control, this is what is happening globally with cryptocurrency, and really indicates the potential velocity of change that digital currency is having on the way consumers spend money now, and will in the future, and Hong Kong is getting on this fast-moving ship.

We noted in recent exchange documents that regulation is sprouting in every corner as cryptocurrency is so disruptive, everyone needs to be ahead of the curve, this portends a dynamic change.

OKEX, a large Crypto Exchange based in Malta noted in a recent research report for users and followers wrote, “ A year ago, the SFC announced a regulatory sandbox amid providing a confined environment for Fintech companies to push forward for regulatory innovation. After a year at the latest HK FinTech Week, Ashley Alder, head of the SFC announced that the city’s securities watchdog has now established a new comprehensive set of regulations for cryptocurrency exchanges in Hong Kong. ”

OKEX noted in the report, “ Alder said the rules are ‘tailor-made’ for the crypto industry, covering all the key investor protection concerns including the safe custody of assets, KYC requirements, anti-money laundering, and market manipulation. Concepts that don’t exist in traditional financial markets like hot and cold wallets, forks, airdrops are also included.”

The report cited also, “Cryptocurrencies and virtual assets traded on an SFC-licensed platform will not be subject to the same kind of regulation which applies to traditional offerings of securities or investment funds. Besides, all licensed platforms must have insurance covering the risk of virtual assets being lost or stolen.”

He stressed that “Virtual assets have been moving further into conventional financial markets”, and highlighted stablecoins in particular, saying that some projects are “capable of being adopted extremely rapidly on a global scale” which have led “serious concerns among politicians and central bankers and financial regulators.”

Learn more at Market News First:
www.MN1.com | Be Truly Informed

eos leads crypto rally with 11 pump as markets hit weekly high
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On the UK: “I’d rather have the people, the talent, the results of the investment in my territory than the pure issuing of tokens”
With a background in Law and Venture Capital, today’s guest Dr Guenther Dobrauz, member of PwC’s Global Legal Leadership Team, has strong belief in the ICO space, Switzerland as a thought-leader, and how regulation is key to getting this transformational ecosystem working to the benefit of all.
He believes that Switzerland is leading the world in ICOs, with its Crypto Valley Association backed by government and some of the biggest banking institutions in the world, because it combines good rules, globally-recognised regulators, and a working ecosystem that combines regulation, banking, advisors
and talent, all available in a supportive space.
Financial services have traditionally developed lineally; but as exponential jumps happen in technology, so new business models emerge, opportunities are opened-up, and new players enter the arena. The old models aren’t cutting it – and the old rules are not keeping up.
He says we are very swift to criticise regulators, but we always underestimate how complicated it is, especially if you are up against a growing, sophisticated, detailed reality. The risk profile of ICO investment is higher than conventional investment. So when it comes to regulation, you need dynamic development to move with the technology.
Guenther believes Europe is a world thought-leader, with the EU creating a blockchain Fintech action plan at a national level. He also believes the UK – which has been a thought leader “in almost anything – ever!” – will take its place in leading this ecosystem.
You don’t always have to be the first mover: sometimes it’s better to be a fast follower. The UK is no speedboat when it comes to ICOs, but it’s no super-tanker either.
His final two points – if you are thinking about launching an ICO for your innovation, be objective.
Research everything and compare the options to do that. And if you’re looking to support an ICO, treat is just like any other investment, do the same background due diligence. And use your grey matter!
These are exciting times, he says – as exciting as the rise of the internet – and blockchain is the second transformational coming in one lifetime. So let’s do amazing things together!

Breaking U.S. Market News, Forex and Cryptocurrency Steve Rich FX TVClose