Hong Kong government issues regulations for crypto fund managers

posted 9 months ago
Hong Kong's securities regulator (SFC) officially released regulations for crypto fund managers. The SFC published the regulations on its website.
The 37-page document titled “Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets,” saw the SFC provide terms and conditions for corporations managing portfolios that invest in virtual assets.

According to the document, virtual asset fund managers in Hong Kong should always maintain liquid capital of a minimum of 3 million Hong Kong dollars ($383,000) and its variable required liquid capital. The SFC also requires crypto fund managers to appoint a functionally independent custodian. The regulator emphasized that a virtual asset fund manager should ensure its fund assets are segregated from its own assets, as well as assets of other clients, unless fund assets are held in an omnibus client account.
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