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Hong Kong’s SFC Issues New Staking Rules for Licensed Crypto Platforms
In a significant move aimed at bolstering the transparency and security of its crypto ecosystem, the Hong Kong Securities and Futures Commission (SFC) has introduced new staking rules for licensed crypto platforms. The updated regulations will allow approved virtual asset trading platforms (VATPs) and authorized virtual asset funds (VAFs) to offer staking services while adhering to strict transparency and risk disclosure requirements.
The SFC’s revamped framework is part of a broader five-pillar regulatory roadmap designed to develop a structured approach to digital asset regulation in the region. The regulator emphasized that prioritizing client protection remains its top priority, ensuring that investors are fully informed about potential risks before engaging with staking services.
Key Highlights:
* Licensed crypto platforms can now offer staking services after meeting strict transparency and risk disclosure requirements.
* The new rules are part of a broader five-pillar regulatory roadmap aimed at developing a structured approach to digital asset regulation in Hong Kong.
* Staking must be conducted within the regulated scope, with no room for outside-the-box staking through non-licensed entities.
* Platforms must implement internal systems that meet risk management rules outlined by the SFC and ensure client information on potential risks.
The revamped guidelines come as a response to growing regulatory activity globally. Following Donald Trump’s re-election in the United States, various countries have started reviewing their crypto regulations. Hong Kong is aligning itself with this global trend by expanding its crypto policies through defined service guidelines.
According to the updated framework, approved platforms must now abide by strict internal systems that meet risk management rules outlined by the SFC. Furthermore, they must ensure clients are informed of potential risks before engaging with staking services.
Source: https://cryptonewsland.com/hong-kongs-sfc-issues-new-staking-rules-for-licensed-crypto-platforms/
