Webinar | Hong Kong Regulation of Virtual Assets Trading Platforms | 20 October 2023

5 months ago
8
Law and Order #SFC #VASP #licensingrequirements

On 20 October 2023, Julia Charlton presented a webinar on Hong Kong Regulation of Virtual Asset Trading Platform. This webinar will cover Hong Kong’s licensing regime for virtual asset trading platforms, the ongoing obligations and various restrictions on their activities once they become licensed, the statutory offences that cover misconduct involving virtual assets and the latest development of the JPEX scandal.

This webinar will cover the following topics in detail:
- Introduction to the licensing regimes under the AMLO & SFO;
- Key Definitions: virtual assets, VASPs etc;
- The Licensing Requirements: Financial Resources; Responsible Officers; Licensed; Representatives; Ultimate Owners & Substantial Shareholders, MICs;
- External Assessment Reports;
- Licensing Conditions: Token Admission Review Committee; VA due diligence and admission criteria;
- Conditions for offering VA for retail trading;
- Prohibited activities;
- VASP’s obligations re: suitability, disclosure, handling client assets, insurance & compensation;
- AML and CTF obligations and Application of Travel Rule to VA transfers;
- VASP’s ongoing reporting obligations & CPT requirements;
- Market misconduct offences;
- AMLO licensing regime’s transitional arrangements; and
- Latest development of the JPEX scandal.

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