[The Hong Kong Securities and Futures Commission only allows licensed platforms to provide Bitcoin and Ethereum transactions] Huang Lexin, Director of the Licensing Section and Head of the Financial Technology Group of the Intermediary Department of the Hong Kong Securities and Futures Commission (SFC), said that the Securities and Futures Commission only allows licensed platforms Providing the buying and selling of Bitcoin and Ethereum, and prohibiting the provision of other services or activities to avoid possible conflicts of interest. Huang Lexin pointed out that the platform needs to assess the customer's knowledge and risk tolerance level of virtual assets, and set an investment limit for the customer based on their financial and personal situation.
Under the new system, virtual asset trading platforms need to comply with a number of regulatory requirements, including financial soundness, suitability of persons in charge and directors, custody of customer assets, anti-money laundering, prevention of market manipulation, etc. Huang Lexin added that although the list of applicants for virtual asset trading platforms has been published on the Hong Kong Securities and Futures Commission website, these applicants are still in the process of applying for licenses and have not yet obtained a license. If the license is ultimately not issued, the business must be ended in an orderly manner. The platforms on the list of licensed trading platforms are the platforms that actually hold licenses issued by the China Securities Regulatory Commission.
Under the new system, virtual asset trading platforms need to comply with a number of regulatory requirements, including financial soundness, suitability of persons in charge and directors, custody of customer assets, anti-money laundering, prevention of market manipulation, etc. Huang Lexin added that although the list of applicants for virtual asset trading platforms has been published on the Hong Kong Securities and Futures Commission website, these applicants are still in the process of applying for licenses and have not yet obtained a license. If the license is ultimately not issued, the business must be ended in an orderly manner. The platforms on the list of licensed trading platforms are the platforms that actually hold licenses issued by the China Securities Regulatory Commission.