The Securities and Futures Commission (SFC) issued a statement reminding investors of the risks associated with virtual asset (VA) platforms offering VA “deposits”, “savings”, “earnings” or “staking” services (VA Arrangements) to investors in Hong Kong in light of their continued prevalence, despite previous investor warnings and recent events in the virtual asset industry.
The SFC also reminded the industry of the potential legal requirements when they offer VA Arrangements to investors in Hong Kong.