The transition period is about to end, 14 virtual asset platforms apply for licenses

Source: Hong Kong Securities and Futures Commission

In particular, investors should check whether the virtual asset trading platform is on the "List of Licensed Virtual Asset Trading Platforms" and the "List of Applicants for Virtual Asset Trading Platforms". The virtual asset trading platforms on the "List of Licensed Virtual Asset Trading Platforms" have been officially licensed by the China Securities Regulatory Commission.

Virtual asset trading platforms on the "List of Virtual Asset Trading Platform Applicants" include virtual asset trading platforms that operate in Hong Kong and have submitted a license application to the Securities and Futures Commission on or before February 29, 2024 ,Currently a total of 14 companies have submitted this application.

It is worth noting that the Securities and Futures Commission reminds the public that applications submitted by applicants on the "Virtual Asset Trading Platform Applicant List" are still being processed, and it is unknown whether they will be approved. Buying and selling on these platforms is therefore risky. These virtual asset trading platforms may ultimately not be licensed as the SFC may return or reject their applications. Under these circumstances, these virtual asset trading platforms may be required to close their business in Hong Kong, and their names may be included in the "List of Cuttered Virtual Asset Trading Platforms". Therefore, investors should also check the "List of Closed Virtual Asset Trading Platforms" from time to time.

Investors should check the regulatory status of virtual asset trading platforms from time to time and in any case on March 1, 2024, because in accordance with the transitional arrangements for the regulatory system of virtual asset trading platforms by the China Securities Regulatory Commission,Virtual asset trading platforms operating in Hong Kong that do not submit a license application to the Securities and Futures Commission on or before February 29, 2024 will have to end their business in Hong Kong on or before May 31, 2024.

If the virtual asset trading platform used by investors to trade operates in Hong Kong and is not on the "List of Licensed Virtual Asset Trading Platforms" or the "List of Applicants for Virtual Asset Trading Platforms", they should register in 2024 Make early preparations before May 31, 2020, such as closing their accounts on these virtual asset trading platforms, or transferring to a virtual asset trading platform licensed by the China Securities Regulatory Commission to trade virtual assets.

Last but not least, the Securities and Futures Commission strongly urges investors to only buy and sell virtual assets on virtual asset trading platforms licensed by the Securities and Futures Commission, as buying and selling on unlicensed platforms may put them at risk. Not guaranteed.

Currently, there are 13 suspicious virtual asset trading platforms announced by the Hong Kong Securities and Futures Commission.