Hong Kong takes action against cryptocurrency exchanges and ICO issuers

Hong Kong's securities regulator has stepped up its efforts to regulate the cryptocurrency market.

In a statement, the Securities and Futures Commission (SFC) has revealed that it has written to seven cryptocurrency exchanges, warning them that they should not trade certain cryptocurrencies classed as securities without a licence.

The names of the exchanges were not disclosed, but the SFC said they were either based in or connected to Hong Kong and rank among the top 20 in volume globally.

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