Revo Digital Family Office welcomes Guidelines for Virtual Asset Trading Platform Operators to take effect
Ray Tam, Chief Executive Officer at Revo Digital Family Office, said, “As one of the major players in the digital asset space, we welcome the Securities and Futures Commission guidelines to take effect. We see the Guidelines as an opportunity to establish credibility and build trust with clients because they will undoubtedly ensure investor protection, market integrity, and compliance with AML regulations that all safeguard a quality growth in the longer run.
“The document will bring significant impact in terms of enhancing a sound infrastructure and is already providing a practical guide for custody of assets, segregation of client assets, avoidance of conflicts of interest and cybersecurity standards. It helps lay a solid foundation for Hong Kong establishing itself as a world hub for Web 3.0 in the longer run, as well as for a thriving digital economy for the city.
“We’ve noticed that there are prominent crypto exchanges who are gearing up to submit their Virtual Asset Service Provider license applications. The developments in Hong Kong mark a crucial step in crypto's journey towards wider acceptance, and reflects the growing maturity of the crypto market, signalling that cryptocurrencies are becoming an integral part of the global financial system.
“Just months into a full boarder reopen, we are seeing a series of new policies and regulations in the digital asset space quickly coming to effect. That shows the speed at which we are storming ahead and the determination with which we are forging Hong Kong as the regional hub. We look forward to other related frameworks and policies coming into place, and create the environment for us to meet our clients’ rising demand to enhance exposure in the digital asset space.”