News & Analysis as of

Digital Assets Hong Kong Securities and Futures Commission (HKSFC)

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

BakerHostetler

Crypto Products Launch in Custody, Web3 Wallets, Debit Cards, Stablecoins; Regulators Address Stablecoins; OFAC and DOJ Announce...

BakerHostetler on

Crypto Custody Providers Launch Institutional Focused Offerings - According to a recent press release by BitGo, a major U.S. cryptocurrency custody provider, BitGo’s GoNetwork and Copper’s ClearLoop have entered into a...more

K&L Gates LLP

The Dual Licensing Regime for Virtual Asset Trading Platforms in Hong Kong – Part 3

K&L Gates LLP on

In our previous alerts (Part I and Part II), we provided a brief overview of the new Dual Licensing Regime and highlighted some of the key aspects of the new regime, particularly those set out under the Guidelines for Virtual...more

K&L Gates LLP

The Dual Licensing Regime for Virtual Asset Trading Platforms In Hong: Kong Key Highlights – Part 2

K&L Gates LLP on

In our previous alert, we provided an overview of the new Dual Licensing Regime and highlighted the consequences of relevant breaches of Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), as amended...more

Hogan Lovells

SFC concludes consultation on regulation of virtual asset trading platforms

Hogan Lovells on

On 23 May 2023, the Securities and Futures Commission (the "SFC") published conclusions (the "Consultation Conclusions") to its consultation launched in February 2023 on the proposed regulatory requirements for virtual asset...more

Latham & Watkins LLP

New Era Dawns for Hong Kong’s Virtual Assets Sector

Latham & Watkins LLP on

The regulatory perimeter continues to expand as the Securities and Futures Commission introduces a comprehensive regime to regulate virtual asset service providers. This Client Alert reviews key obligations and...more

Dechert LLP

Hong Kong Virtual Asset Fund Managers – Current State of Play

Dechert LLP on

The current regulatory requirements in Hong Kong with regards to managing funds that invest in "virtual assets" ("VA") can be summarized as follows – if an asset manager has a licence from the Hong Kong Securities and Futures...more

Morgan Lewis - All Things FinReg

States, Countries Focus on Fraud Prevention and Customer Protection in Crypto

New York has enhanced its fraud prevention tools, while consumers can identify crypto scams using California’s scam tracker. A week after the US Securities and Exchange Commission (SEC) proposed amendments to cover...more

Latham & Watkins LLP

Hong Kong Continues Developing Its Virtual Asset Framework

Latham & Watkins LLP on

The latest statements from the government and regulators indicate that Hong Kong is moving forward with enhancing its virtual asset regulatory and legal regime. The Hong Kong government and the Securities and Futures...more

Hogan Lovells

Virtual Asset Snapshot – Hong Kong

Hogan Lovells on

The Regulation of Virtual Assets in Hong Kong – nature, features and risk determine treatment Regulation of virtual assets (including cryptocurrencies) (“VA”) in the Hong Kong Special Administrative Region (“Hong Kong”) has...more

Latham & Watkins LLP

Hong Kong Securities and Futures Commission Issues Statement on NFTs

Latham & Watkins LLP on

The SFC issued a statement to clarify its regulatory approach in relation to non-fungible tokens and remind investors of related risks. On 6 June 2022, the Hong Kong Securities and Futures Commission (SFC) issued a...more

Latham & Watkins LLP

Hong Kong Consults on a New Licensing Regime to Regulate Virtual Assets Exchanges

Latham & Watkins LLP on

Hong Kong government issued a consultation to implement a new regulatory framework requiring virtual asset exchanges to be regulated by the SFC - Key Points: ..The Hong Kong Financial Services and the Treasury Bureau...more

Katten Muchin Rosenman LLP

Bridging The Week - January 2020

It was not part of the recently concluded Golden Globes ceremony, but last week both the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations and the Financial Industry Regulatory Authority...more

Perkins Coie

Blockchain Week in Review - November 2019

Perkins Coie on

U.S. Developments - Litigation - New York Resident Indicted for Duping Investors with Fake ICO Scam - On November 6, the United States Attorney for the Southern District of New York announced a wire fraud charge...more

Latham & Watkins LLP

Hong Kong FinTech Week: Day 1 in Review

Latham & Watkins LLP on

SFC outlines new regulatory framework for virtual asset trading platforms, HKMA highlights recent FinTech initiatives, and PBOC discusses China’s forthcoming central bank digital currency. The fourth annual Hong Kong FinTech...more

Dechert LLP

SFC Addresses Regulation of Managers of Virtual Asset Funds and Virtual Asset Discretionary Accounts

Dechert LLP on

In light of an increasing demand for virtual asset investment products, the Hong Kong Securities and Futures Commission (SFC) has been taking steps to clarify the legal and regulatory requirements for this market. In this...more

K&L Gates LLP

Securities and Futures Commission to Regulate Virtual Asset Funds

K&L Gates LLP on

On November 1, 2018, the Securities and Futures Commission (“SFC”) announced that it will bring virtual asset funds under its regulatory purview to improve investor protections....more

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