Regulatory Alerts2025-09-30
Added · Updated
Supplemental Joint Circular on Intermediaries’ Virtual Asset-Related Activities
The Securities and Futures Commission and the Hong Kong Monetary Authority issued this supplemental circular to refine licensing conditions for intermediaries engaging in virtual asset activities. The regulators now permit intermediaries to offer staking services, utilize off-platform trading services of licensed platforms, and facilitate client subscriptions using virtual assets, subject to specific segregation and compliance requirements. Additionally, the circular clarifies that net worth and risk disclosure requirements do not apply to institutional professional investors and mandates advance notification for material changes to virtual asset-related operations.
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