SFC concludes consultation on regulation of virtual asset trading platforms

05/23 08:52

The Securities and Futures Commission (SFC) today released the Consultation Conclusions on the Proposed Regulatory Requirements for Virtual Asset Trading Platform Operators Licensed by the SFC. During the consultation period, the SFC received 152 written submissions from industry and professional associations, professional and consultancy firms, market participants, licensed corporations, individuals and other stakeholders. A significant majority of respondents agreed to our proposal to allow licensed trading platform operators to serve retail investors. “Providing clear regulatory expectations is the key to fostering responsible development,” said Ms Julia Leung, the SFC’s Chief Executive Officer. “Hong Kong’s comprehensive virtual assets regulatory framework follows the principle of ‘same business, same risks, same rules’ and aims to provide robust investor protection and manage key risks. This will enable the industry to develop sustainably and support innovation.” The Guidelines for Virtual Asset Trading Platform Operators will become effective on 1 June 2023.
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