The Hong Kong Securities and Futures Commission (SFC) has released finalized guidelines for virtual asset trading platform opera

24 May 2023, 09:51
🇭🇰 The Hong Kong Securities and Futures Commission (SFC) has released finalized guidelines for virtual asset trading platform operators (VATPs). The guidelines cover financial soundness, market conduct, consumer protection, and AML/CFT measures. 🔒 Licensed VATPs in Hong Kong will be able to offer retail investors access to "eligible large cap virtual assets" with suitability assessments and exposure limits. However, retail trading of stablecoins will not be permitted until the HKMA's stablecoin regulatory regime is implemented. 💼 The guidelines have undergone revisions and clarifications based on public feedback. Token due diligence requirements have become more principles-based, and the need for legal advice to confirm tokens as non-security tokens has been removed. 💰 VATPs must maintain insurance and compensation arrangements for custody risks. The required coverage for assets held in cold wallets has been lowered to 50%, while the proposal for 98% of client assets in cold wallets remains unchanged. Private keys must be stored in Hong Kong. ❗️ VATPs and their affiliates are prohibited from engaging in proprietary trading or providing services like earning, deposit-taking, lending, and borrowing. However, affiliates are allowed to take positions on other trading venues apart from their related VATP. ⌛️Starting June 1, 2023, new requirements for VATPs will be in effect. Eligible entities can benefit from transitional arrangements. Stay updated with circulars, FAQs, and a licensing handbook for guidance on the licensing process at the following link: bit.ly/436q2WI _____________ Klarda Official Media Channels: Twitter | Telegram Announcement | Medium | Galxe | QuestN

Same news in other sources

6
25 May 2023, 07:52
Legend of Fantasy War telegram news 25 May 2023 07:52
25 May 2023, 07:52
Legend of Fantasy War telegram news 25 May 2023 07:52
25 May 2023, 07:52
📢 Klarda is honored to be the speaker and sponsor of the Future Foundation 6 at FPT University Vietnam! 🤩Huge thanks to Polygon Guild HCM and FPT University for organizing this incredible event. #FPTUniversity #Polygon #Blockchain #Web3 #FutureFoundation6
Klarda is honored to be the speaker and sponsor of the Future Foundation 6 at FPT University Vietnam.
📢 Klarda is honored to be the speaker and sponsor of the Future Foundation 6 at FPT University Vietnam! 🤩Huge thanks to Polygon Guild HCM and FPT University for organizing this incredible event. #FPTUniversity #Polygon #Blockchain #Web3 #FutureFoundation6
24 May 2023, 16:22
✏✏✏✏✏✏✏✏✏✏✏✏ 🔥Join #AMA Linked Finance World & Meta2150s this Friday, May 26 to win exclusive #NFT 📌Rules: 🕊Follow Twitter @Legend_LFW & @Meta2150s 👍Like, RT this 👉Tweet 👈 ✅Answer the Fun Quiz correctly in the AMA session at LFWorld Telegram 🎁5 Quantum Forces NFT is waiting for you! #LFW $LFW #DeFi _________________ 🟢About Meta2150s: Meta2150s is a multi-chain platform for GameFi and NFT that integrates LandFi, marketplace, NFT staking and DAO structure. Its land NFTs represents the ownership in the platform. These NFTs are based on the real map of the world so players are able to choose their preferred cities. The ultimate goal of Meta2150s is to bring together guilds, games, marketplaces and game enthusiasts on the same platform. 📌Meta2150S Official Channel: Website | Twitter | Telegram | Litepaper ___________________ 📌 LFW.Fi Official Media Channels: Website | Medium |Telgram Announcement | Telegram Community | QuestN | Zealy | ByBit | Gate.io | Coinmarketcap
Join #AMA Linked Finance World & Meta2150s this Friday, May 26 to win exclusive #NFT. Rules:.
✏✏✏✏✏✏✏✏✏✏✏✏ 🔥Join #AMA Linked Finance World & Meta2150s this Friday, May 26 to win exclusive #NFT 📌Rules: 🕊Follow Twitter @Legend_LFW & @Meta2150s 👍Like, RT this 👉Tweet 👈 ✅Answer the Fun Quiz correctly in the AMA session at LFWorld Telegram 🎁5 Quantum Forces NFT is waiting for you! #LFW $LFW #DeFi _________________ 🟢About Meta2150s: Meta2150s is a multi-chain platform for GameFi and NFT that integrates LandFi, marketplace, NFT staking and DAO structure. Its land NFTs represents the ownership in the platform. These NFTs are based on the real map of the world so players are able to choose their preferred cities. The ultimate goal of Meta2150s is to bring together guilds, games, marketplaces and game enthusiasts on the same platform. 📌Meta2150S Official Channel: Website | Twitter | Telegram | Litepaper ___________________ 📌 LFW.Fi Official Media Channels: Website | Medium |Telgram Announcement | Telegram Community | QuestN | Zealy | ByBit | Gate.io | Coinmarketcap
24 May 2023, 16:22
✏✏✏✏✏✏✏✏✏✏✏✏ 🔥Join #AMA Linked Finance World & Meta2150s this Friday, May 26 to win exclusive #NFT 📌Rules: 🕊Follow Twitter @Legend_LFW & @Meta2150s 👍Like, RT this 👉Tweet 👈 ✅Answer the Fun Quiz correctly in the AMA session at LFWorld Telegram 🎁5 Quantum Forces NFT is waiting for you! #LFW $LFW #DeFi _________________ 🟢About Meta2150s: Meta2150s is a multi-chain platform for GameFi and NFT that integrates LandFi, marketplace, NFT staking and DAO structure. Its land NFTs represents the ownership in the platform. These NFTs are based on the real map of the world so players are able to choose their preferred cities. The ultimate goal of Meta2150s is to bring together guilds, games, marketplaces and game enthusiasts on the same platform. 📌Meta2150S Official Channel: Website | Twitter | Telegram | Litepaper ___________________ 📌 LFW.Fi Official Media Channels: Website | Medium |Telgram Announcement | Telegram Community | QuestN | Zealy | ByBit | Gate.io | Coinmarketcap
Join #AMA Linked Finance World & Meta2150s this Friday, May 26 to win exclusive #NFT. Rules:.
✏✏✏✏✏✏✏✏✏✏✏✏ 🔥Join #AMA Linked Finance World & Meta2150s this Friday, May 26 to win exclusive #NFT 📌Rules: 🕊Follow Twitter @Legend_LFW & @Meta2150s 👍Like, RT this 👉Tweet 👈 ✅Answer the Fun Quiz correctly in the AMA session at LFWorld Telegram 🎁5 Quantum Forces NFT is waiting for you! #LFW $LFW #DeFi _________________ 🟢About Meta2150s: Meta2150s is a multi-chain platform for GameFi and NFT that integrates LandFi, marketplace, NFT staking and DAO structure. Its land NFTs represents the ownership in the platform. These NFTs are based on the real map of the world so players are able to choose their preferred cities. The ultimate goal of Meta2150s is to bring together guilds, games, marketplaces and game enthusiasts on the same platform. 📌Meta2150S Official Channel: Website | Twitter | Telegram | Litepaper ___________________ 📌 LFW.Fi Official Media Channels: Website | Medium |Telgram Announcement | Telegram Community | QuestN | Zealy | ByBit | Gate.io | Coinmarketcap
24 May 2023, 09:51
🇭🇰 The Hong Kong Securities and Futures Commission (SFC) has released finalized guidelines for virtual asset trading platform operators (VATPs). The guidelines cover financial soundness, market conduct, consumer protection, and AML/CFT measures. 🔒 Licensed VATPs in Hong Kong will be able to offer retail investors access to "eligible large cap virtual assets" with suitability assessments and exposure limits. However, retail trading of stablecoins will not be permitted until the HKMA's stablecoin regulatory regime is implemented. 💼 The guidelines have undergone revisions and clarifications based on public feedback. Token due diligence requirements have become more principles-based, and the need for legal advice to confirm tokens as non-security tokens has been removed. 💰 VATPs must maintain insurance and compensation arrangements for custody risks. The required coverage for assets held in cold wallets has been lowered to 50%, while the proposal for 98% of client assets in cold wallets remains unchanged. Private keys must be stored in Hong Kong. ❗️ VATPs and their affiliates are prohibited from engaging in proprietary trading or providing services like earning, deposit-taking, lending, and borrowing. However, affiliates are allowed to take positions on other trading venues apart from their related VATP. ⌛️Starting June 1, 2023, new requirements for VATPs will be in effect. Eligible entities can benefit from transitional arrangements. Stay updated with circulars, FAQs, and a licensing handbook for guidance on the licensing process at the following link: bit.ly/436q2WI _____________ Klarda Official Media Channels: Twitter | Telegram Announcement | Medium | Galxe | QuestN
The Hong Kong Securities and Futures Commission (SFC) has released finalized guidelines for virtual asset trading platform opera
🇭🇰 The Hong Kong Securities and Futures Commission (SFC) has released finalized guidelines for virtual asset trading platform operators (VATPs). The guidelines cover financial soundness, market conduct, consumer protection, and AML/CFT measures. 🔒 Licensed VATPs in Hong Kong will be able to offer retail investors access to "eligible large cap virtual assets" with suitability assessments and exposure limits. However, retail trading of stablecoins will not be permitted until the HKMA's stablecoin regulatory regime is implemented. 💼 The guidelines have undergone revisions and clarifications based on public feedback. Token due diligence requirements have become more principles-based, and the need for legal advice to confirm tokens as non-security tokens has been removed. 💰 VATPs must maintain insurance and compensation arrangements for custody risks. The required coverage for assets held in cold wallets has been lowered to 50%, while the proposal for 98% of client assets in cold wallets remains unchanged. Private keys must be stored in Hong Kong. ❗️ VATPs and their affiliates are prohibited from engaging in proprietary trading or providing services like earning, deposit-taking, lending, and borrowing. However, affiliates are allowed to take positions on other trading venues apart from their related VATP. ⌛️Starting June 1, 2023, new requirements for VATPs will be in effect. Eligible entities can benefit from transitional arrangements. Stay updated with circulars, FAQs, and a licensing handbook for guidance on the licensing process at the following link: bit.ly/436q2WI _____________ ✅ Klarda Official Media Channels: Twitter | Telegram Announcement | Medium | Galxe | QuestN