HK regulator publishes lists of digital asset buying and selling platforms

The Securities and Futures Fee (SFC) of Hong Kong printed in the present day a number of lists of digital asset buying and selling platforms (VATPs) on its web site as a part of its efforts to disseminate data on VATPs in a transparent, clear and well timed method.

These lists embody:

• “Checklist of licensed digital asset buying and selling platforms” (Checklist of licensed VATPs), which units out the names of VATP operators formally licensed by the SFC;
• Ranging from in the present day, a “Checklist of digital asset buying and selling platform candidates” (Checklist of VATP candidates), which units out the names of VATP operator candidates (VATP candidates) whose licence purposes have but to be accepted by the SFC; this listing is accompanied by a “Checklist of candidates whose licence purposes have been returned, refused or withdrawn” (Checklist of eliminated VATP candidates), which units out the names faraway from the Checklist of VATP candidates as their licence purposes have been returned, refused or withdrawn;
• “Checklist of closing-down digital asset buying and selling platforms” (Checklist of closing-down VATPs), which units out the names of VATP operators required by legislation to shut down inside a specified interval; and
• “Checklist of digital asset buying and selling platforms that are deemed to be licensed” (Checklist of deemed licensed VATPs), which units out the names of VATP operators deemed to be licensed as of 1 June 2024.

The SFC additionally issued in the present day a devoted listing of suspicious VATPs on its web site to assist traders extra simply establish suspicious VATPs doing enterprise in Hong Kong and improve consciousness.

Particularly, traders are reminded that every one entities on the Checklist of VATP candidates will not be licensed by the SFC and will not be compliant with the SFC’s necessities. This listing is issued to facilitate the general public’s willpower of whether or not a VATP has misrepresented its licence utility standing (eg, claiming that it has utilized for a licence when actually it has not).

VATPs planning to use for a licence with the SFC are reminded to submit totally accomplished purposes with all the mandatory data and paperwork, together with exterior evaluation stories. Substandard purposes could be returned by the SFC and the title of the related VATP applicant could be faraway from the Checklist of VATP candidates and added to the Checklist of eliminated VATP candidates.