2025-08-30
The answer is negative. According to the regulations of the Securities and Futures Commission (SFC) in Hong Kong, users in compliant cryptocurrency exchanges in Hong Kong must complete real-name authentication (KYC, Know Your Customer) to purchase cryptocurrency. This requirement is not only a necessary step for legal compliance, but also an important measure to protect investors and market security.
According to SFC's regulatory requirements, all cryptocurrency exchanges operating in Hong Kong must implement strict KYC procedures. This requirement aims to ensure that the platform complies with Anti Money Laundering (AML) and Counter-Terrorism Financing (CFT) laws and regulations. Allowing users to purchase cryptocurrency without identity verification may lead to illegal fund inflows and undermine market transparency and fairness.
Due to its decentralized nature, the cryptocurrency market is an easy target for money laundering, terrorist financing, and other illegal activities. Through KYC, exchanges can verify user identities and reduce the risk of illegal activities.
KYC is not only for regulatory compliance, but also for protecting users' own interests. Through identity verification, exchanges can better protect user accounts and prevent unauthorized transactions and theft.
KYC helps build a trustful and transparent market environment, distinguishing licensed virtual asset exchanges from unlicensed virtual asset platforms. This is crucial for protecting investor interests and promoting the healthy development of the industry.
If you want to know how to complete KYC on HashKey Exchange, please refer to this article.
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