Hong Kong Securities and Futures Commission: Retail investors can trade virtual assets on licensed trading platforms as early as the second half of the year

ChainCatcher news, according to the Hong Kong Radio website, the acting head of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Choi Chung-fai, stated that there are currently no platforms available for retail investors to buy and sell virtual assets. It is expected that after the guidelines come into effect, retail investors will be able to trade on licensed trading platforms as early as the second half of this year.

Choi emphasized that if local virtual asset platforms have not been operating before the regulations come into effect, or if overseas platforms do not have a license after the guidelines are implemented, they cannot conduct virtual asset trading business in Hong Kong, nor can they promote in Hong Kong; otherwise, they will be held criminally liable. Existing platforms can apply for a license within 9 months after the guidelines come into effect.

He also mentioned that licensed platforms must ensure that their clients are not trading through "VPNs" and must verify whether the IP addresses are from regions where virtual asset trading is prohibited, emphasizing the need to comply with relevant regional regulations. (Source link)