Hong Kong Securities Regulator Updates Crypto Policies Citing Market Developments

The Securities and Futures Commission (SFC) of Hong Kong has announced plans to revise its policies regarding the sale of virtual currencies, citing recent market developments and industry inquiries.

In a notice issued on October 20, the SFC indicated that the updated guidelines will restrict certain virtual currency products to professional investors only. Furthermore, it is emphasized that intermediaries within the cryptocurrency sector must evaluate whether their clients possess adequate knowledge of investing in virtual assets before proceeding with any transactions.