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SFC Extends Swift Licensing Process to VATP Applicants
The Securities and Futures Commission (SFC) announced that all new virtual asset trading platform (VATP) applicants can now seek licenses under its swift licensing process.This new...
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The Securities and Futures Commission (SFC) announced that all new virtual asset trading platform (VATP) applicants can now seek licenses under its swift licensing process.

This new licensing approach requires VATP applicants to implement their policies, procedures, systems and controls before conducting an external assessment on these measures. The SFC will become a party to the engagement to supervise the overall external assessment process.

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This extension is made in light of the effectiveness of the SFC’s direct engagement and communication with deemed-to-be-licensed VATP applicants on the regulatory standards during its risk-based on-site inspections of all such applicants.

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