Global #cryptocurrency exchanges

On September 4, 2017, the Chinese government, led by the People's Bank of China and six other agencies, issued a comprehensive ban on initial coin offerings (ICOs) and required all domestic cryptocurrency exchanges to stop operations.

In Russia, a new political effort is challenging the central bank's opposition to digital assets. Several members of parliament from the "New People" party have formally requested that the Central Bank of Russia license and regulate cryptocurrency exchanges.

The Philippine Securities and Exchange Commission (SEC) has issued a public warning against ten offshore cryptocurrency exchanges, including major players OKX and KuCoin, for operating without the necessary licenses.

Cambodia's Telecommunications Regulator (TRC) has taken decisive action against a number of online gambling sites and cryptocurrency exchanges, including Binance.

During the recent Hong Kong Fintech Week, The Cryptonomist had the opportunity to speak with Mr. King Leung, Global Head of Fintech, Financial Services, and Sustainability at InvestHK.

In a significant move to curb illegal cryptocurrency activities, Russian authorities have reportedly launched a crackdown on unauthorized crypto exchanges, conducting extensive raids in Saint Petersburg and surrounding areas.