🚀 Hong Kong Securities and Futures Commission Expands Virtual Asset Regulation
#HongKong #SecuritiesAndFuturesCommission #VirtualAssets #InvestorProtection #Bitcoin #Regulation #MarketVolatility #FinancialDominance #CustodialInstitutions #OverTheCounterTrading #MacroeconomicEnvironment #MarketResilience #GrowthStrategies #UnlockingMarketPotential #BTC
According to BlockBeats, Hong Kong Securities and Futures Commission (SFC) CEO Leung Fung-yee stated that the SFC has been regulating virtual assets since 2018 with a focus on investor protection. Amid cycles of geopolitical and digital development, Bitcoin has emerged as an alternative asset and a tool for financial dominance. Leung emphasized Hong Kong's regulatory approach of 'same business, same risk, same rules,' and announced plans to extend regulation to over-the-counter trading and custodial institutions, beyond licensed exchanges.
In her keynote speech, Leung highlighted that market volatility has become the new norm in the current macroeconomic environment. As a regulatory body, the SFC must respond with flexible and robust measures to ensure the resilience of Hong Kong's market while leveraging its unique advantages to seize new opportunities. The SFC's strategy is described as comprising 'one strong shield' and 'three sharp arrows': the shield symbolizes the resilience of the market and financial institutions, while the arrows represent targeted growth strategies aimed at unlocking market potential.#HongKong #SecuritiesAndFuturesCommission #VirtualAssets #InvestorProtection #Bitcoin #Regulation #MarketVolatility #FinancialDominance #CustodialInstitutions #OverTheCounterTrading #MacroeconomicEnvironment #MarketResilience #GrowthStrategies #UnlockingMarketPotential #BTC
🚀 South Korea Establishes Framework for Security Token Offerings
#SouthKorea #SecurityTokenOfferings #STO #CapitalMarketsAct #ElectronicSecuritiesAct #DistributedLedger #TokenizedSecurities #InvestmentContractSecurities #RegulatoryFramework #FinancialRegulations #Blockchain #ElectronicRegistration #OverTheCounterTrading #IssuanceAccountManagement #FinancialInnovation
According to PANews, South Korea's National Assembly has passed amendments to the Capital Markets Act and the Electronic Securities Act, marking the formal establishment of a framework for the issuance and circulation of security token offerings (STOs). This development comes approximately three years after the country's financial regulatory authorities released relevant guidelines.
The core elements of the amendments include the introduction of the distributed ledger concept, allowing issuers meeting certain conditions to directly issue and manage tokenized securities through electronic registration. Additionally, a new 'issuance account management institution' has been established. Investment contract securities and other atypical securities will also fall under the regulatory scope of the Capital Markets Act, with new provisions enabling their circulation in the over-the-counter market through newly established brokerage services.
The revised Capital Markets Act takes effect immediately upon publication. However, provisions related to investment solicitation guidelines will be implemented six months after publication, while those concerning over-the-counter trading will come into effect one year after publication.#SouthKorea #SecurityTokenOfferings #STO #CapitalMarketsAct #ElectronicSecuritiesAct #DistributedLedger #TokenizedSecurities #InvestmentContractSecurities #RegulatoryFramework #FinancialRegulations #Blockchain #ElectronicRegistration #OverTheCounterTrading #IssuanceAccountManagement #FinancialInnovation