TechFlow news, on August 22, according to Bloomberg citing sources, the Hong Kong Securities and Futures Commission (SFC) conducted on-site inspections of 11 virtual asset trading platforms and identified multiple deficiencies. Some platforms excessively relied on a small number of senior executives to oversee client asset custody, while others failed to adequately mitigate cybercrime risks. An SFC spokesperson stated that the inspections aim to determine whether applicants meet regulatory requirements, with particular focus on client asset protection and KYC procedures. For platforms unable to rectify serious shortcomings, the SFC may revoke their deemed licensed status or reject their license applications.
Add to Favorites
Share to Social Media
