Blockchain around the world

Blockchain around the world

First Published: e-Forex Magazine 83 / Blockchain and CryptoCurrencies / November 2018

Hong Kong. Following an announcement on 1st November 2018, Hong Kong’s Securities and Futures Commission (SFC) will impose licensing conditions on all firms managing portfolios that intend to invest 10 per cent-plus of gross assets in virtual assets. Only professional investors will be able to invest in such assets. The new licensing regime does not cover crypto-funds invested solely in crypto-assets, as these do not meet the SFC’s definition of ‘securities’ or ‘futures contracts’. However, fund distributors are already required to register with the SFC as brokers, which entails compliance with a range of disclosure requirements and client-suitability obligations. In effect and intention, this requirement covers crypto-funds. Dubai. Marking the tenth birthday of Bitcoin, deVere Group has launched the deVere Digital Asset Funds, a suite of digital currency solutions for experienced investors, in association with Dubai-based hedge-fund manager Dalma...continued

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