Hong Kong Securities and Futures Commission Licenses First Virtual Asset Trading Platform
December 29th | 2020
Hong Kong’s Securities and Futures Commission (SFC) recently announced that it granted the first license to a virtual asset trading platform in Hong Kong. The platform is licensed for dealing in securities and providing automated trading services. As part of the licensing conditions, the licensee must only provide services to professional investors. This follows the legislative framework the SFC proposed in November where the SFC would be able to regulate all centralized virtual asset exchanges, including those that only trade types of virtual assets which currently fall outside the SFC’s jurisdiction.