Hong Kong Securities and Futures Commission Leung Fung-yee: Those who have not applied for a virtual asset trading platform license will terminate their Hong Kong operations on or before the end of May

Hong Kong Securities and Futures Commission chief executive Julia Leung said that relevant service providers should end their operations in Hong Kong on or before May 31 if they do not submit a licence application. The list of applicants is expected to be updated tomorrow.
Speaking at an event, she also said that the SFC issued a circular on Token Authorized Investment Products in November last year, proposing very clear guidance for intermediaries and private equity funds engaged in Token Securities activities, including due diligence and risk disclosure requirements.
Previously, the Hong Kong Securities and Futures Commission (SFC) said that according to the transitional arrangement, virtual asset trading platforms operating in Hong Kong will have to end their operations in Hong Kong on or before May 31, 2024 if they do not submit a license application to the SFC on or before February 29, 2024.
Investors should check the regulatory status of their virtual asset trading platforms and make preparations before 31 May 2024, such as terminating their accounts with virtual asset trading platforms that are not on the "List of Licensed Virtual Asset Trading Platforms" or "List of Applicants for Virtual Asset Trading Platforms", or transferring to trading virtual assets on a virtual asset trading platform licensed by the Securities and Futures Commission.