Greenlight for retail investors – SFC-authorised virtual asset funds
In October 2022, the Hong Kong Securities and Futures Commission (the "SFC") published a circular setting out its readiness to accept applications for authorisation of virtual asset futures ETFs and the SFC's requirements in authorising such ETFs.
Since then, the market and regulatory landscape of virtual assets ("VA") in Hong Kong has evolved rapidly. The SFC has therefore decided to expand the scope of the existing requirements, and have published a new circular on 22 December 2023 which supersedes the previous circular in October 2022.
This client alert summarises the SFC's new requirements when authorising VA Funds.
Click here to read more.