The SFC has released a consultation summary proposing amendments to the Securities and Futures Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance to further restrict institutions from using names that may mislead the public into believing they are regulated or affiliated with well-known financial institutions. Proposed restricted name combinations include terms such as “crypto,” “crypto assets,” “cryptocurrency,” “digital assets,” “tokens,” “tokenized assets,” and “virtual assets,” when paired with terms like “exchange,” “market,” “trading platform,” or “clearing house,” such as “crypto exchange,” “digital asset market,” or “cryptocurrency trading platform.” The restrictions apply to combinations of these terms, not to the standalone use of any individual word. The proposed amendments are still subject to legislative council review, and it is recommended that the new rules take effect six months after enactment. https://t.co/T53nQAVZPt