SFC issues Consultation Conclusions on the Proposed Regulatory Requirements for Virtual Asset Trading Platform Operators

May 2023

On 23 May 2023, the Securities and Futures Commission (‘SFC’) published the Consultation Conclusions on the proposed licensing regime for virtual asset (‘VA’) trading platform operators (‘VATP Licensing Regime’) (‘Consultation Conclusions’). The Consultation Conclusions follows feedback from market participants in relation to the questions posed by the SFC in its public consultation on the VATP Licensing Regime issued on 20 February 2023 (‘Consultation Paper’). For a review of the Consultation Paper, please refer to our News Flash issued in February 2023. The Consultation Conclusions also includes the further revised draft guidelines in final form – (1) Guidelines for VATPs (‘Revised VATP Guidelines’), (2) Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (for Licensed Corporations and SFC-licensed VA Service Providers) (‘Revised AML Guideline for LCs and VASPs’) and (3) Prevention of Money Laundering and Terrorist Financing Guideline issued by the SFC for Associated Entities of LCs and SFC-licensed VASPs.

In this News Flash, we provide a summary of the Consultation Conclusions and share some insights into what it means for market participants.  

Contact us

David Tiang

Gaven Cheong
Partner
Tel: +[852] 2833 4993
Email