Hong Kong’s keenly-awaited Virtual Asset Licensing Regime (VASP) is one of the first major market in-depth licensing regimes to be developed following the turbulent events of 2022, which continue to reverberate the crypto industry. What do we need to know about Hong Kong’s new virtual asset regime?

On May 23, SFC published consultation conclusions on the regulatory requirements for virtual asset (VA) trading platform operators under the new licensing regime effective on 1 June, 2023. VDX team formulated a two-page highlights covering key points to note and changes in the new SFC-licensing regime. Details are as follow.

Given the complexity of the subject matter, we are constantly updating our views and following up the updates from SFC to obtain a more accurate understanding. If you are interested in this topic or find any points we missed, please join our discussion!

About VDX

VDX is creating a world-leading digital asset platform, committed to bringing regulated, reliable, safe and fair services to global investors and financial institutions. VDX Connect delivers customized solutions in the areas of regulation, compliance, trading and risk reporting. Bridging traditional and digital finance, VDX provides a trusted gateway for brokers, banks, fund managers and family offices to access the digital asset space in a compliant way. For more information, please visit https://www.vdx.com