Coin

<ul>
 <li>The Hong Kong SFC has restructured its regulatory approach to virtual assets, introducing new updates to the virtual asset policy.</li>
 <li>The new policy restricts the sale of complex virtual asset products to retail investors.</li>
 <li>SFC insists intermediaries assess clients’ knowledge of the nature and risks of virtual assets.</li>
</ul>
According to the latest reports, the Hong Kong Securities and Futures Commission (SFC) has <a href="https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/intermediaries/supervision/doc?refNo=23EC44" target="_blank" rel="noopener noreferrer nofollow">restructured </a>its regulatory approach to virtual assets, introducing new updates to the virtual asset policy. Considering the rapid <a href="https://coinedition.com/tag/digital-asset/" rel="noopener noreferrer nofollow">evolution of digital assets</a> since the formulation of virtual asset (VA) regulation in 2018, the commission has reviewed and modified the existing policies regarding VA-related activities.
One of the major revisions is the distribution of “complex” virtual assets to professional investors. The SFC asserted that the potential risks of the virtual assets and their related activities are less likely to be understood by retail investors, pinpointing the agency’s decision to facilitate the sale of these assets only to professional investors.
Prominent Chinese crypto analyst Colin Wu shared an X post on his official account under the…
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/hong-kong-sfc-updates-virtual-asset-policy-ensures-customer-protection/">Hong Kong SFC Updates Virtual Asset Policy: Ensures Customer Protection</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Hong Kong SFC Updates Virtual Asset Policy: Ensures Customer Protection

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