Hong Kong SFC Issues Crypto Fund Licensing Conditions for Hong Kong Crypto Fund Managers
Hong Kong’s Securities and Futures Commission (SFC) has published Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets[1] (Terms and Conditions for Virtual Assets) – standard terms and conditions that it will impose as a licensing condition on fund managers of funds:
- whose stated investment objective is to invest in virtual assets; or
- which intend to invest 10% or more of the fund’s gross asset value in virtual assets (together “Hong Kong Virtual Asset Fund Managers”).
The Terms and Conditions for Virtual Assets are subject to minor variations and elaborations depending on individual Hong Kong Virtual Asset Fund Managers’ business and models circumstances. Read More…