Hong Kong Securities and Futures Commission: Will work with the police to establish risk assessment guidelines for virtual asset cases

ChainCatcher news, the Director of the Regulatory and Enforcement Division of the Hong Kong Securities and Futures Commission, Zheng Dejia, stated that the SFC and the Police Force have established a working group on virtual asset trading platforms, which has held four meetings in October and November. Subsequently, it is planned to conduct information exchanges regarding individual cases and incidents related to virtual platforms at least twice a week according to this mechanism.

Both parties will formulate guidelines to assess the risks of individual cases to determine whether further investigation or enforcement actions are necessary. If the SFC discovers particularly suspicious cases that require rapid enforcement or related actions, it will contact the police as soon as possible to ensure effective coordination between both parties during the investigation and enforcement period.

He continued to state that during the regular information exchange period of one week, if the SFC discovers particularly suspicious cases that require rapid enforcement or related actions, it will contact the police as soon as possible to ensure effective coordination between both parties during the investigation and enforcement period.

Regarding the number of victims and the amount involved in HongKongDAO and BitCuped, the SFC pointed out that the cases are still under investigation, and no relevant information is currently available. When other suspicious platforms are identified in the future, if assessed as necessary to be disclosed, they will be announced as soon as possible.