The Securities and Futures Fee (SFC) has granted
licences to 4 digital asset buying and selling platforms (VATPs) underneath 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 authorized suppliers, the Hong
Kong SFC has granted licences to 4 extra VATP suppliers: Hong Kong
Digital Asset EX Restricted, Accumulus GBA Expertise Co., Restricted, DFX
Labs Firm Restricted, and Thousand Whales Expertise.
The licensed VATPs will function with a restricted enterprise
scope till they deal with the problems raised in the course of the SFC’s inspections. They
should additionally conduct a vulnerability evaluation and penetration check, with
passable outcomes from an unbiased third social gathering.
“We have now been proactively participating 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 stability between safeguarding the
pursuits of buyers and facilitating steady improvement for the digital
asset ecosystem in Hong Kong.”
Along with the three already authorized, the Hong Kong SFC at the moment added 4 newly authorized digital asset VATP suppliers, specifically Hong Kong Digital Asset EX Restricted, Accumulus GBA Expertise (Hongkong) Co., Restricted, DFX Labs Firm Restricted, and Thousand Whales Expertise (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 will likely be lifted after the SFC is glad with the second-phase
evaluation outcomes.
A round issued at the moment (Wednesday) outlines the licensing
course of and affords additional steerage on the second-phase evaluation.
This text was written by Tareq Sikder at www.financemagnates.com.
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