Too Long; Didn't Read
No one should be surprised by this latest turn for cryptocurrency exchanges. On Friday, Hong Kong’s Securities and Futures Commission (SFC) <a href="http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=18PR13" target="_blank">announced</a> that it sent seven letters to different cryptocurrency exchanges, warning that certain tokens listed on their exchanges could be securities, as defined by Hong Kong’s Securities and Futures Ordinance (SFO), and that these tokens should not be traded without a license.