Response to SFC Public Consultation
HK Bitcoin ATM submitted a response on December 2020. The SFC is granting license to a single cryptocurrency company cater for ‘professional investors’ while wishing to shutdown all other companies cater for ‘retail investors’. SFC is helping a single company to become monopoly. We do not agree with this proposal and have expressed in our response. We hope the Hong Kong government would continue to allow business to be conduct business freely, support fintech and tech companies to grow in Hong Kong.
On 3 November 2020, the Hong Kong Securities and Futures Commission (SFC) together with the Financial Services and the Treasury Bureau (FSTB) announced a proposal to establish a mandatory licensing regime for cryptocurrency exchanges, and to prevent non-institutional investors from buying or selling Bitcoin. https://www.bitcoin.org.hk/2021-consultation-response/