The SFC will also maintain a list of “suspicious VATPs” on its website to safeguard investors. This move follows the JPEX crypto exchange scandal, which allegedly promoted services to Hong Kong residents without a license, resulting in around $178 million in financial losses and over 2,200 filed complaints. The SFC will collaborate with law enforcement agencies to facilitate reporting and investigations related to VATP violations.
Hong Kong introduced a licensing regime for VATPs on June 1, with only two platforms, Hashkey and OSL Digital, currently holding licenses for retail customer services. The SFC acknowledges the potential benefits of cryptocurrencies but remains focused on addressing risks like money laundering and investor protection, highlighting the importance of robust regulatory oversight.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}