Hong Kong Moves to Address ‘Hardest Position to Fill’ in Crypto

Hong Kong, which is preparing to introduce a new regime for trading digital assets, is responding to concerns raised by industry players about the shortage of a crucial type of worker.

In conclusions from a weeks-long consultation published Tuesday, the Securities and Futures Commission included a provision that may allow licensed crypto platforms to employ fewer so-called responsible officers than previously thought.

The difficulty finding responsible officers, or ROs, had emerged as a hurdle for crypto companies seeking permits under Hong Kong’s new regulatory regime, which takes effect June 1. That’s threatening to set back Hong Kong’s push to ...