Hong Kong will extend regulatory requirements to all cryptocurrency exchanges, including Huobi, OKEx and BitMEX

Hong Kong authorities will require that all cryptocurrency trading platforms receive regulated status. Previously, the requirement applied only to those who trade securities, according to Reuters.

As explained by the head of the securities and futures Commission of Hong Kong, Ashley alder, in the past, the regulator applied a selective legal framework for cryptocurrency trading platforms, which allowed some of them to work out of the sight of the authorities.

Currently, several major cryptocurrency exchanges operate from Hong Kong, including Huobi, OKEx, and BitMEX.

In February, the leadership of the special area announced the upcoming tightening of requirements for cryptocurrency exchanges against the background of an appeal by the financial action task Force against money laundering (FATF).

"We have met with a large number of crypto platform operators in an effort to determine whether they can function in a regulated environment. After an in-depth study of their technical and operational features, we came to the conclusion that some of them can be regulated by us," alder said earlier.