Any person operating a VA exchange in Hong Kong will need to apply for a VASP licence or cease operations in Hong Kong. The Amendment Bill contains transitional provisions for operators of VA exchanges carrying on business in Hong Kong before 1 March 2023
The Hong Kong Monetary Authority (the HKMA) proposes to establish a regulatory framework for entities conducting activities in relation to payment-related stablecoins in Hong Kong, seeking public and industry feedback on its proposed regulatory approach.
The Securities and Futures Commission (the SFC) and the Hong Kong Monetary Authority (the HKMA) issued updated guidance for intermediaries distributing virtual asset-related products and/or offering virtual asset dealing or advisory services. The HKMA and the Hong Kong Insurance Authority have also published separate circulars on regulatory approaches in relation to virtual assets and virtual asset service providers.
The SFC’s new regulations for licensed crypto exchanges focus on investor protection to ensure that clients of professional investors have sufficient knowledge of virtual asset investments.
The Stock Exchange of Hong Kong (HKEx) published a Research Report: Hong Kong’s ETF Market as a Door to Global Investment in September 2019 highlighting Hong Kong’s potential as Asia’s exchange traded funds (ETF) marketplace for the issue and trading of ETFs. With...
The SFC sets out regulatory requirements in a Statement on Regulatory Framework for Virtual Assets Portfolios Managers, Fund Distributors and Trading Platform Operators (the Regulatory Framework Statement).
The SFC’s “Statement on regulatory framework for virtual asset portfolio managers, fund distributors and trading platform operators” sets out its proposals for the potential regulation of crypto exchanges.
On 19 March 2018, the Securities and Futures Commission (SFC) issued a press release stating that Black Cell Technology Limited (Black Cell) halted its initial coin offering (ICO) to the Hong Kong public as a result of regulatory action by the SFC. The SFC considered...
The SFC sent letters to seven cryptocurrency exchanges in Hong Kong notifying them that they should not trade cryptocurrencies which are securities as defined under the SFO unless they are licensed by the SFC.
A key issue surrounding cryptocurrencies is whether they are regarded as securities and thus subject to an extensive regulatory regime. On 5 September 2017, Hong Kong’s SFC issued a statement on ICOs.
SFC Circular on Regulation of Bitcoin Futures and Cryptocurrency Investment Products and Related Risks
The Securities and Futures Commission (SFC) issued a Circular on 11 December 2017 stating that it regards Bitcoin futures contracts traded on U.S. futures and commodities exchanges (Bitcoin Futures) as “futures contracts” for the purposes of the Securities…
New listings on the Hong Kong Stock Exchange (the Exchange) in 2017 hit an all-time high of 174 companies, while its market capitalisation reached HK$33,998.8 billion on the year’s final trading day, its highest level ever, according to the Exchange’s latest data published 9 January 2018.