China Brings Crypto Funds Under the Regulation of the SFC
In an article by Coindesk, they share that “Hong Kong’s Securities and Futures Commission (SFC) says it will bring crypto funds under its securities regulations to improve investor protection.
In a circular issued Thursday, the financial regulator said that investment funds based in Hong Kong and that intend to invest more than 10 percent of their gross portfolios into “virtual assets,” either directly or indirectly via intermediaries, will have to be licensed and registered with the agency.”