SFC noted that the new rules for regulating stakeing have become part of the Aspire more global plan aimed at developing the Virtual Assets market in Hong Kong by expanding available services. The department believes that the ability to earn money in an adjustable environment will make it more attractive to investors.
According to the new rules, VATP platforms will be obliged to notify users about possible risks of stakeing, give recommendations to prevent errors in the work and report measures taken by the crypto platform to protect customer assets.
For VA Funds funds, the regulator introduced restrictions on the volume of stakeing in order to control liquidity risks, and also allowed participating in staiking only through licensed platforms or institutions authorized in the SFC.
Earlier, the Government of the special administrative district of Hong Kong (SAR) called on investors to beware of a fraudulent crypto project known as the National Hong Kong Coin.
Source: Bits
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