SFC Sets Standards for Virtual Asset Portfolio Managers and Fund Distributors
On 1 November 2018, the Securities and Futures Commission (SFC) published a Statement on Regulatory Framework for Virtual Assets Portfolios Managers, Fund Distributors and Trading Platform Operators (the Regulatory Framework Statement) setting out the regulatory standards applicable to virtual asset portfolio managers and distributors of virtual funds. The SFC has already issued a number of warnings of the risks associated with virtual assets.