The Securities and Futures Commission (“SFC”) of Hong Kong has published its Consultation Conclusions on the Proposed Regulatory Requirements for Virtual Asset Trading Platform (“VATP”) Operators Licensed by the SFC.
The consultation period ran from 20th February 2023 to 31st March 2023, during which the SFC received 152 submissions from respondents regarding its proposed regulatory requirements for VATPs.
The document covers:
- Comments received and SFC responses;
- Implementation timetable for VATP Guidelines and AML Guidelines;
- Final form of the revised Guidelines for VATP Operators;
- Final form of the revised Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations and SFC-licensed Virtual Asset Service Providers); and
- Final form of the revised Prevention of Money Laundering and Terrorist Financing Guideline issued by the SFC for Associated Entities of Licensed Corporations and SFC-licensed Virtual Asset Service Providers.
Relevant firms operating in Hong Kong can read the SFC’s conclusions to keep up to date with regulatory developments.