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 circular to establish licensing and registration conditions for intermediaries providing virtual asset dealing and advisory services. The regulations mandate that entities operate through omnibus accounts with SFC-licensed platforms, maintain specific financial soundness standards, and strictly prohibit holding client assets or providing financial accommodation. Furthermore, intermediaries must implement robust client suitability assessments, risk profiling, and operational controls to prevent market manipulation and ensure the protection of retail investors.
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