O
Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority
(HKMA) are responding to the changing landscape of virtual assets (VAs). The
regulators have updated their policies with increasing inquiries from intermediaries
about distributing crypto-related products and services.
Iz
reading of the latest circular, it appears that cryptocurrencies are “complex products” that should be available only to professional
investors, while others should undergo appropriate training to trade them.
However, the problem is that such products’ definitions are quite vague.
V 2018,
the SFC’s initial approach towards virtual assets included restrictions aimed
primarily at “professional investors.” However, the rise of virtual
assets in mainstream finance has prompted a review. The SFC now permits
SFC-licensed virtual asset trading platforms to cater to retail investors and
has greenlit virtual asset futures exchange-traded funds for public offering in
Hong Kong.
Posodobljeno
policy focuses on intermediaries wishing to engage in virtual asset activities,
reflecting the latest market trends. This revised guideline will replace the
joint circular from 28 January 2022 on the same subject.
Kljub
growing global interest in virtual assets, the regulatory landscape remains
nedosleden. The SFC has identified risks, like potential market manipulation
and lack of pricing transparency, which retail investors may not readily
understand. Consequently, intermediaries must comply with SFC’s requirements,
especially when dealing with complex products.
Glede na to,
these risks, the SFC and the HKMA have proposed additional investor protection
measures. These include selling restrictions, ensuring that only professional
investors can access certain complex products, and a virtual asset-knowledge
test for clients.
In
practice, at least a few issues arise.
Hongkonški SFC je posodobil svojo politiko virtualnih sredstev. Prvi je, da je treba produkte virtualnih sredstev, ki veljajo za kompleksne produkte, prodajati le profesionalnim vlagateljem. Drugi je, da bi morali posredniki za neprofesionalne vlagatelje najprej oceniti relevantne…
- Wu Blockchain (@WuBlockchain) Oktober 21, 2023
Mixed Signal from SFC and
HKMA
Regulativno
explanation of what constitutes “complexity” is rather ambiguous. For
example, the authors suggest that a foreign VA non-derivative ETF would most
likely be categorized as a complex product, suitable only for professional
investors. Conversely, certain VA derivatives listed on approved exchanges
could still be made available to the general public.
O
guidelines also introduce fresh regulations for asset management firms dealing
in crypto assets and cryptocurrency consultants. The Hong Kong authorities
appear to be sending conflicting messages. For example, advisors must assess an
sredstva likvidnost and presence on multiple indices before recommending it.
To bi lahko
also have implications for the crypto trženje sector, as the guidelines don’t
explicitly address advertising standards for cryptocurrencies.
O
Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority
(HKMA) are responding to the changing landscape of virtual assets (VAs). The
regulators have updated their policies with increasing inquiries from intermediaries
about distributing crypto-related products and services.
Iz
reading of the latest circular, it appears that cryptocurrencies are “complex products” that should be available only to professional
investors, while others should undergo appropriate training to trade them.
However, the problem is that such products’ definitions are quite vague.
V 2018,
the SFC’s initial approach towards virtual assets included restrictions aimed
primarily at “professional investors.” However, the rise of virtual
assets in mainstream finance has prompted a review. The SFC now permits
SFC-licensed virtual asset trading platforms to cater to retail investors and
has greenlit virtual asset futures exchange-traded funds for public offering in
Hong Kong.
Posodobljeno
policy focuses on intermediaries wishing to engage in virtual asset activities,
reflecting the latest market trends. This revised guideline will replace the
joint circular from 28 January 2022 on the same subject.
Kljub
growing global interest in virtual assets, the regulatory landscape remains
nedosleden. The SFC has identified risks, like potential market manipulation
and lack of pricing transparency, which retail investors may not readily
understand. Consequently, intermediaries must comply with SFC’s requirements,
especially when dealing with complex products.
Glede na to,
these risks, the SFC and the HKMA have proposed additional investor protection
measures. These include selling restrictions, ensuring that only professional
investors can access certain complex products, and a virtual asset-knowledge
test for clients.
In
practice, at least a few issues arise.
Hongkonški SFC je posodobil svojo politiko virtualnih sredstev. Prvi je, da je treba produkte virtualnih sredstev, ki veljajo za kompleksne produkte, prodajati le profesionalnim vlagateljem. Drugi je, da bi morali posredniki za neprofesionalne vlagatelje najprej oceniti relevantne…
- Wu Blockchain (@WuBlockchain) Oktober 21, 2023
Mixed Signal from SFC and
HKMA
Regulativno
explanation of what constitutes “complexity” is rather ambiguous. For
example, the authors suggest that a foreign VA non-derivative ETF would most
likely be categorized as a complex product, suitable only for professional
investors. Conversely, certain VA derivatives listed on approved exchanges
could still be made available to the general public.
O
guidelines also introduce fresh regulations for asset management firms dealing
in crypto assets and cryptocurrency consultants. The Hong Kong authorities
appear to be sending conflicting messages. For example, advisors must assess an
sredstva likvidnost and presence on multiple indices before recommending it.
To bi lahko
also have implications for the crypto trženje sector, as the guidelines don’t
explicitly address advertising standards for cryptocurrencies.
- Distribucija vsebine in PR s pomočjo SEO. Okrepite se še danes.
- PlatoData.Network Vertical Generative Ai. Opolnomočite se. Dostopite tukaj.
- PlatoAiStream. Web3 Intelligence. Razširjeno znanje. Dostopite tukaj.
- PlatoESG. Ogljik, CleanTech, Energija, Okolje, sončna energija, Ravnanje z odpadki. Dostopite tukaj.
- PlatoHealth. Obveščanje o biotehnologiji in kliničnih preskušanjih. Dostopite tukaj.
- vir: https://www.financemagnates.com//cryptocurrency/is-crypto-now-for-pros-only-hong-kongs-leaves-investors-guessing/
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