SFC updated the Joint Circular on Intermediaries’ Virtual Asset-related Activities
January 2024
On 22 December 2023, the Securities and Futures Commission of Hong Kong (‘SFC’) and the Hong Kong Monetary Authority revised their joint circular (‘Revised Circular’) on intermediaries’ virtual asset (‘VA’) -related activities to update their existing policy for intermediaries looking to engage in VA activities. The Revised Circular supersedes an earlier circular issued on 20 October 2023 (‘2023 Circular’). For an overview of the 2023 Circular, please refer to our NewsFlash issued in November 2023.
The updates were made in the context of the SFC greenlighting a broader range of authorised funds with direct and indirect exposure to VA under the SFC’s circular on SFC-authorised funds with exposure to VA (‘Authorised VA Funds Circular’). For an overview of the Authorised VA Funds Circular, please refer to our NewsFlash issued in December 2023.
This news alert was jointly published by PwC Hong Kong and Tiang & Partners.
Tiang & Partners is an independent Hong Kong law firm and a member of the PwC network.
