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Hong Kong's New Crypto License Could Cost Exchanges a Pretty Penny

The city’s new licensing regime paves the way for exchanges to operate legally and serve retail clients but tough compliance requirements could cost firms as much as $20 million, industry insiders say.

By Lavender Au|Edited by Nikhilesh De, Sandali Handagama

Updated Aug 4, 2023, 12:14 p.m. Published Aug 4, 2023, 12:14 p.m.

Licensing consultants are charging up to $1 million to advise firms on the application. (Ratnakorn Piyasirisorost/Unsplash)