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Webinar Replay: Hong Kong Regulation in Motion: Digital Assets and Conduct Risk
The SFC places significant emphasis on governance and supervisory controls around digital assets. Firms are expected to maintain comprehensive compliance, monitoring, and recordkeeping frameworks that support market integrity and investor protection, with Senior Managements being responsible to oversee the effectiveness of these controls and regulatory compliance arrangements.Key Takeaways
- Policies alone are not enough. Effective compliance requires consistent implementation, ongoing oversight, and demonstrable evidence that controls are operating as intended.
- Regulatory expectations are converging. The principle of "same business, same risk, same rules" means digital asset activities are increasingly subject to standards comparable to those applied in traditional finance.
- Digital assets present unique personal account dealing challenges. Firms must be equipped to manage evolving risks associated with highly accessible, fast-moving, and diverse digital asset markets.
- Fitness and propriety is a continuous obligation. Maintaining regulatory standards extends well beyond onboarding and requires ongoing monitoring, assessment, and accountability.
- Technology is becoming a compliance imperative. Automation and RegTech solutions are increasingly viewed as critical enablers of scalable oversight, strong governance, and regulatory readiness.
Understanding the UK Regulatory Framework for Cryptoasset Businesses
An overview of the UK’s emerging cryptoasset regulatory framework, outlining FCA oversight, policy objectives, and implications for cryptoasset businesses.
