In light of recent public concerns about unregulated virtual asset trading platforms (VATPs), the Securities and Futures Commission (SFC) is putting in place a series of measures to reinforce information dissemination and investor education.

The HKSAR Government announced the establishment of the Task Force on Promoting Web3 Development. Chaired by the Financial Secretary, the Task Force comprises 15 non-official members from the relevant market sectors, with the participation of key government officials and financial regulators concerned.

The SFC begins accepting applications for VATP licenses on June 1. King Leung, Head of Financial Services and Fintech at InvestHK, joined the interview conducted by CoinDesk to break down the state of crypto adoption and the enhanced regulatory regime in HK.

The new licensing regime for centralised virtual asset trading platforms under the AMLO will come into effect on 1 June 2023. This circular sets out the transitional arrangements of the new licensing regime under the AMLO.

In collaboration with Hong Kong Monetary Authority (HKMA), we have compiled a list of frequently asked questions on bank account opening for VASPs and Digital Assets-related companies. This FAQ will provide you with some useful information and tips.

The Securities and Futures Commission released the Consultation Conclusions on the Proposed Regulatory Requirements for Virtual Asset Trading Platform Operators Licensed by the SFC.