Hong Kong Securities and Futures Commission: It is a criminal offense for a virtual asset trading platform to conduct any unlicensed activities

03/01 11:00

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Hong Kong Securities and Futures Commission reminded industry professionals and investors on its official website that virtual asset trading platforms that have submitted license applications to the Securities and Futures Commission must continue to operate in Hong Kong after June 1, 2024, or the deadline of February 29, 2024, has ended. According to the transitional arrangement, any virtual asset trading platform that is currently operating in Hong Kong must submit a license application to the Securities and Futures Commission by the deadline of February 29, 2024, or earlier, otherwise it must end its business in Hong Kong by May 31, 2024, or earlier. These virtual asset trading platforms must obtain the necessary Securities and Futures Commission licenses before they can resume their business activities in Hong Kong or actively promote their virtual asset services to Hong Kong investors, any unlicensed activity is considered a criminal offense.

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