Hong Kong’s SFC to Replace Insurance policies on Digital Property Gross sales, Introduces Restrictions for Retail Buyers

The Hong Kong Securities and Futures Fee (SFC) has introduced intentions to revise insurance policies on digital foreign money gross sales and necessities.

The Hong Kong Securities and Futures Fee (SFC) has introduced intentions to revise insurance policies on digital foreign money gross sales and necessities in response to latest market developments and trade considerations. Sure digital foreign money merchandise will solely be accessible to skilled traders, based on the brand new standards, whereas cryptocurrency intermediaries should examine their purchasers’ experience of investing in digital belongings earlier than finishing transactions.
The SFC considers digital belongings to be advanced merchandise, topic to the identical restrictions as comparable monetary devices. Whereas the precise impression of the latest JPEX change rip-off on the amended coverage is unknown, the SFC hopes to lift investor consciousness of dangers by forming a joint working group with the Hong Kong Police Pressure to look at suspected felony actions involving digital belongings.

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