The Securities and Futures Commission (SFC) of Hong Kong has green enlightened deployment services for recognized digital assets exchanges.
On Monday, the Regulator issued regulatory guidelines for the new services, and notes that setting up with potential benefits, such as improving the security of blockchain protocols, while users can achieve yields for their participation.
The SFC says that regulated entities must take precautions to manage investor risks.
“They must enforce measures to prevent effective errors related to the services, to protect virtual assets of the customer and to ensure proper disclosure of risks to which such assets can be subjected.”
Julia Leung, the Chief Executive Officer of the SFC, says that allowing regulated Crypto fairs The offering of deployment services is a step forward for Hong Kong’s crypto industry.
“Broadening the series of regulated services and products is crucial to support the healthy progress of the virtual assets ecosystem of Hong Kong. But the widening must be done in a regulated environment where the safety of virtual assets of the customer remains in the middle of the compliance framework for offering such a service.”
Last year Hong Kong Spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs) approved.
In November Hong Kong Exchanges and Clearing Limited (HKEX), the largest grant in the special administrative region, turns the launch of his own “Virtual Asset Index Series”.
The index is intended to offer a reliable benchmark for the prices of BTC and ETH in the Asian time zone, while the price differences between the various global stock exchanges are resolved.
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