Crypto firms in Hong Kong face risks as new licensing rules advance

A hard-start approach may force compliant firms to stop operations.
The HKSFPA urges a 6–12 month grace period for applicants.
The association also raised concerns over the CARF framework.Hong Kong’s plan to tighten oversight of digital asset firms has raised concerns that crypto managers could be forced to suspend operations.
The warning comes from the Hong Kong Securities & Futures Professionals Association (HKSFPA), which has flagged risks associated with the potential implem