SFC oversight refers to the regulatory supervision exercised by the Securities and Futures Commission (SFC) of Hong Kong over financial markets and participants. This oversight includes licensing, rule-making, and enforcement actions to maintain market integrity and protect investors. It extends to various financial products, including digital assets.
Context
SFC oversight is a key factor for crypto businesses operating in Hong Kong, as the region aims to establish itself as a digital asset hub. Recent news details the SFC’s implementation of new licensing regimes for virtual asset trading platforms and other service providers. The commission’s rigorous approach to regulation is shaping the operational standards for crypto firms in the jurisdiction.
The SFC's hard deadline compels all non-compliant VASPs to cease Hong Kong operations by May 31st, solidifying the jurisdiction's regulated market structure.
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