Author: Carl Fernandes

SFC Warning to Virtual Asset Trading Platforms and Investors

This warning restates the current requirements and does not create any new expectations or clarify any previous guidance, and VATP firms should be therefore be on notice as to the established, expected standards and practices. Many VATP firms have had limited experience of regulation by a financial regulator and therefore they should carefully note what the SFC has said in this warning as well as in publications such as the VATP Guidelines and related guidance, and ensure that their practices are compliant or that they have plans to become so.