virtual asset service provider (VASP)

Bitcoin extends the day’s losses but keeps above US$29,000, while Binance’s BNB drops amid exchange’s payment service closure.

HashKey Exchange and OSL — the only two cryptocurrency exchanges licensed by the Hong Kong SFC — received license upgrades Thursday to service retail investors.

Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.

Analysts say the move could signal a bull run in cryptocurrencies.

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

Hong Kong’s financial services providers, including local brokers and fund managers, are seeking advice to prepare for new licensing requirements which will allow them to provide services to retail traders, according to a media report.

The Bangko Sentral ng Pilipinas (BSP) slaps a moratorium on new virtual asset service provider (VASP) license applications starting Sept. 1.

Binance’s third approval in Europe came after the Bank of Spain allowed its Spanish subsidiary to register as a virtual asset services provider (VASP), the world’s largest crypto exchange by volume said Friday.  See related article: SEC said to probe Binance for rule violation in 2017 initial coin offering: report Fast facts The registration will […]

FLUID aims to disrupt the virtual asset market-making industry by lowering fees and latency. Fast facts Blockchain investors GSR, Ghaf Capital, and 21Shares led the round. FLUID aims to tackle a multi-trillion-dollar market problem of illiquidity in virtual assets. The firm wants to enhance liquidity across spot trading, derivatives, futures, synthetics, tokenized assets, and security […]

An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]

Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its […]

Sandbank, a South Korean bank for virtual assets, says it is in the process of acquiring the necessary certification needed to legally operate in the country. However, the financial authorities have yet to decide whether their requirements apply to crypto banks. Fast facts In an announcement, Sandbank told its customers it has put acquiring the […]

Crypto exchanges, or VASPs, are coming under increasing regulation. Complying with the Financial Action Task Force’s travel rule will be one of them.

Singapore and Hong Kong are at the forefront of regulations over crypto exchanges, writes Vince Turcotte of Eventus Systems. Here’s why trade surveillance and risk management will be critical.