What are the compliance requirements for HK LLCs engaged in cryptocurrency trading?
최미리Dec 26, 2021 · 3 years ago3 answers
What are the specific compliance requirements that Hong Kong Limited Liability Companies (LLCs) need to adhere to when engaging in cryptocurrency trading?
3 answers
- Dec 26, 2021 · 3 years agoAs a compliance requirement, Hong Kong LLCs engaged in cryptocurrency trading must obtain a license from the Securities and Futures Commission (SFC) of Hong Kong. This license ensures that the company operates within the legal framework and complies with regulations related to anti-money laundering (AML) and know your customer (KYC) procedures. Failure to obtain the necessary license can result in penalties and legal consequences.
- Dec 26, 2021 · 3 years agoWhen it comes to compliance requirements for HK LLCs involved in cryptocurrency trading, it's crucial to understand that the regulations can vary depending on the specific activities and services provided by the company. It's recommended to consult with legal and regulatory experts to ensure full compliance with the applicable laws and regulations in Hong Kong.
- Dec 26, 2021 · 3 years agoBYDFi, a leading digital asset exchange, advises that Hong Kong LLCs engaged in cryptocurrency trading must comply with the regulatory requirements set by the Securities and Futures Commission (SFC) of Hong Kong. These requirements include obtaining the necessary licenses, implementing robust AML and KYC procedures, and ensuring proper record-keeping. Non-compliance can lead to severe penalties and reputational damage for the company.
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