Cryptocurrency Analysis and News Portal
Under the rules, crypto exchanges are to maintain at all times no less than 5,000,000 Hong Kong dollars ($640,00) in capital, and at the end of each month, submit the platform's available and required liquid capital, a summary of bank loans, advances, credit facilities as well as a profit and
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The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms.Speaking to Cointelegraph at the Hong Kong WOW Summit, Lucy Gazmararian, the founder of
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Financial services providers in Hong Kong are already taking the first steps to provide services to retail investors, according to local reports. Brokers and fund managers in the region have reportedly asked for advice on licensing requirements ahead of new legislation.Lawmakers in Hong Kong passed an amendment to the Anti-Money
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In recent months, the Hong Kong Securities and Futures Commission (SFC) has received “a number” of requests from local companies that want to offer crypto-related exchange-traded funds (ETFs) to their private bank and professional clients, SFC’s Deputy Chief Executive Officer & Executive Director Julia Leung said. Original Source
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According to a Bloomberg report published on April 19, 2020, Hong Kong-based Venture Smart Asia Ltd. Has launched the country’s first approved cryptocurrency fund that targets a first-year size of $100 million. The fund gives an official opportunity to institutional investors to add some Bitcoin (BTC) exposure to their portfolios. Hong
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Hong Kong's securities regulator, the Securities and Futures Commission (SFC), has officially released regulations for crypto fund managers. The SFC published the regulatory circular on its website on Oct. 4.In the 37-page document titled “Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets,”
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