The Securities and Futures Fee (SFC) has granted
licences to 4 digital asset buying and selling platforms (VATPs) below its expedited
licensing course of.
The event follows the completion of risk-based on-site
inspections for deemed-to-be-licensed VATP candidates, a programme launched
in June 2024.
VATPs Licensed with Restricted Scope
Together with the three beforehand authorised suppliers, the Hong
Kong SFC has granted licences to 4 further VATP suppliers: Hong Kong
Digital Asset EX Restricted, Accumulus GBA Know-how Co., Restricted, DFX
Labs Firm Restricted, and Thousand Whales Know-how.
The licensed VATPs will function with a restricted enterprise
scope till they deal with the problems raised throughout the SFC’s inspections. They
should additionally conduct a vulnerability evaluation and penetration take a look at, with
passable outcomes from an impartial third social gathering.
“Now we have been proactively partaking with VATPs’ senior
administration and supreme controllers which helps drive house our anticipated
regulatory requirements and expedite our licensing course of for VATPs,” mentioned Eric
Yip, the SFC’s Govt Director of Intermediaries.
“We intention to strike a steadiness between safeguarding the
pursuits of buyers and facilitating steady improvement for the digital
asset ecosystem in Hong Kong.”
Along with the three already authorised, the Hong Kong SFC at the moment added 4 newly authorised digital asset VATP suppliers, particularly Hong Kong Digital Asset EX Restricted, Accumulus GBA Know-how (Hongkong) Co., Restricted, DFX Labs Firm Restricted, and Thousand Whales Know-how (BVI).…
— Wu Blockchain (@WuBlockchain) December 18, 2024
SFC Points Round on Licensing
The SFC will oversee the second-phase evaluation of VATPs in
collaboration with the platforms and their exterior assessors. Restrictions on
enterprise scope shall be lifted after the SFC is happy with the second-phase
evaluation outcomes.
A round issued at the moment (Wednesday) outlines the licensing
course of and presents additional steerage on the second-phase evaluation.
This text was written by Tareq Sikder at www.financemagnates.com.
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