{
  "node_id": "hk-sfc-virtual-asset-trading-platform-vatps-licensing-requirements",
  "title": "HK SFC Virtual Asset Trading Platform (VATP) Licensing - Securities and Futures Ordinance",
  "domain": "Crypto & Sovereign Finance",
  "version": "1.0.0",
  "last_updated": "2024-06-01",
  "bluf": "Hong Kong's Securities and Futures Commission (SFC) introduced a mandatory licensing regime for Virtual Asset Trading Platforms (VATPs) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), effective 1 June 2023. All platforms facilitating virtual asset trading in Hong Kong or targeting Hong Kong investors must hold an SFC VATP licence. Licensees must maintain minimum liquid capital of HKD 3 million, segregate client assets, implement robust cybersecurity, and restrict services to professional investors and eligible retail investors based on suitability assessments.",
  "paywall": {
    "status": "LOCKED",
    "unlock_cost_usd": "0.01",
    "skyfire_id": "41779894-ece2-4163-9761-b3b1b76e19b0"
  },
  "crosswalks": {
    "_available_keys": [
      "industry_mapping",
      "use_cases",
      "related_standards",
      "geographic_scope",
      "compliance_timeline"
    ],
    "_note": "Full crosswalk values included in vault response"
  },
  "dependencies": [
    "fatf-40-recommendations-2023-consolidated"
  ],
  "primary_citations_count": 5
}