The Hong Kong Securities and Futures Commission (SFC) has warned against complying with regulations governing cryptocurrency exchanges and trading in cryptocurrency derivatives. Organizations that do not obtain a license under the current regulations may not be licensed during the transition period due to their violation of the rules. The SFC will closely monitor the activities of cryptocurrency exchanges and service providers, stressing that there may be criminal liability if regulations are not followed. A clear message was given to all market participants about the importance of complying with regulations.