Virtual asset platforms are online services or applications that enable users to buy, sell, store, or exchange digital assets, including cryptocurrencies and non-fungible tokens. These platforms provide interfaces for interacting with blockchain networks and often offer additional services like custody, staking, or lending. They serve as key gateways for participation in the digital asset economy.
Context
News concerning virtual asset platforms frequently reports on regulatory actions, security incidents, and new product offerings. Regulators globally are working to establish clear licensing and operational standards for these platforms to mitigate risks such as money laundering and consumer fraud. The evolution of these platforms, from centralized exchanges to decentralized protocols, significantly shapes the accessibility and utility of digital assets.
The SFC's policy pivot removes liquidity ring-fencing and lowers track record barriers, strategically enhancing Hong Kong's competitive market structure for professional digital asset services.
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