Fund with respect to Bitcoin and Altcoins are considered to be Investment the future. Hong Kong’s authority, the SFC has now developed guidelines for the industry.
Hong Kong also in the case of crypto-Fund as a good example
The Hong Kong special administrative region is currently due to the ongoing protests in media center. The metropolis enjoys as a business location for companies with an excellent reputation. Also for the cryptographic industry. Because when it comes to the legal regulation, ahead of the Hong Kong authorities, in many countries, a large piece. There, authorities have long since developed a comprehensive set of rules for the treatment of crypto-currencies between Bitcoin and Zcash. Meanwhile, there are countries in Europe only gradually similar efforts – such as the Bitcoin strategy in Germany. This should allow the 2020 government securities. The Asian city of millions Hong Kong-based company already since the beginning of the current year, with clear specifications. The authorities professionals developed, among other things, the SFC guidelines. She rules the sector of the Security Token. Now the securities regulator defined in addition, guidelines for providers of crypto funds.
Fund managers are now bound to have far-reaching rules
The rules and regulations of the securities includes not less than 37 pages. The Securities and Futures Commission (SFC) has dealt with the question of appropriate standards for companies that want to be as a crypto-Fund Manager active. The paper bears the usual cumbersome name of “Pro-forma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets”. Providers have already been patterned accordingly. Who would like to set up a Fund on the Basis of the Bitcoin or other Coins like Ethereum, are bound now to clear rules. Not only for start-UPS, the requirements will apply. Who already operates a Fund, or an important add – on in digital Assets invested, must now adhere to the guidelines. However, the organizational-economic rules do not apply to all products on the market.
The Identification requirement for investors is coming soon?
Instead, the SFC is addressed to asset Manager (including Fund Manager/operator) Fund with a minimum volume of three million Hong Kong dollars in the Form of liquid capital. Moreover, additional variable capital should be available, so that uses. Whether it is Bitcoin ETFs (i.e., exchange-traded funds) or other products, seems to be irrelevant. In addition to the new mandatory rules by the securities regulator suppliers also speaks some recommendations. In the future, yet precise rules for the effective fight against money laundering follow, which will equally prevent the funding of global terror should also. Fund capital is to be kept to the Wishes of the SFC according to accounts in “independent custodian banks”. Thus, the strict separation of customer and corporate capital is connected. When the additional guidelines to follow, is not yet known.
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