Hong Kong’s SFC
The Securities and Futures Commission (SFC) in Hong Kong has updated their requirements for virtual asset service providers (VASPs). Previously, only exchanges offering securities or a mixture of cryptocurrencies and securities were required to sign up with the regulator.
According to Clara Chiu, the Director of licensing and Head of FinTech unit at the SFC stated that the government’s proposed a widened “supervisory net over centralised virtual asset trading platforms so that Hong Kong could comply with the requirements of the FATF.”
New Regulatory Guidance
Hong Kong will soon issue a new consultation paper as to how centralized virtual asset trading platforms should be regulated.
The keynote did not mention how, when or if decentralised trading platforms would be under the purview.