Hong Kong wants cryptocurrency trading platforms to be regulated

(FILES) In this file photo taken on January 26, 2020 a photo shows physical imitations of cryptocurrency in Dortmund, western Germany. - Britain's financial regulator announced on October 6, 2020, it had decided to ban the sale of cryptocurrency derivatives to individuals, deeming this type of product too risky and of little use. "Excessive price volatility, combined with difficulties in reliably estimating the value of crypto-assets, puts consumers at high risk of losing" capital, explained Sheldon Mills, an official at the Financial Conduct Authority (FCA). (Photo by INA FASSBENDER / AFP)

HONG KONG: Hong Kong will regulate all cryptocurrency trading platforms operating in the financial hub, the city's markets watchdog said on Tuesday, changing its previous "opt in" approach.

Financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and preventing money laundering are particular concerns.