Regulatory Approach Taken by the Sfc on Virtual Assets

Centralized Virtual Asset Exchanges

Virtual Asset Dealing

Distribution

Julia Charlton's welcome speech

Virtual Asset Trading Platform Operators: 2 Licensing Regimes

Licensing under the AMLO

Virtual Assets Definition

SFO Licensing

Platform Operators’ Fitness & Properness

Platform Operators’ Competency

Responsible Officers’ Fitness and Properness

Responsible Officers’ Industry Experience

Licensed Representatives Required Educational Qualifications & Experience

SFC Approval of a VASP’s Ultimate Owner

VASP Complaints Officer & Emergency Contact Person and SFC Approval of Premises

Submission of Platform Operators’ Bank Account Information and SFC Regulatory Sandbox

Token Admission and Review Committee Requirements

Virtual Asset Due Diligence and Admission Criteria

Prohibition on Trading Virtual Asset Derivatives and other Restricted Activities

Clients’ Suitability for Trading Virtual Assets and Virtual Asset Exposure Limits for VA Retail Clients

Virtual Asset Due Diligence and Admission Criteria

Disclosure of Information for each Virtual Asset Traded

VASP Insurance and Compensation Provision

Application of the Travel Rule to VA Transfers

Changes to VASP Licences Requiring Prior SFC Approval

Market Misconduct Regime for Activities involving Virtual Assets

Offence to Issue Advertisements to the HK Public to Acquire, Dispose of, Subscribe for or Underwrite Securities

Transitional Arrangements for VA Exchanges Operating in HK before 1 June 2023