Hong Kong Securities and Futures Commission releases 2023-24 annual report: 234 on-site inspections of virtual asset licensees and related entities

Securities and Futures Commission of Hong Kong released its 2023-24 report, which pointed out that as of March 3, 2024, the total number of licensed entities and individuals and registered institutions reached 47,851, including 44,493 licensed individuals, 112 registered institutions, and 3,246 licensed entities, of which 2,140 were licensed to conduct regulated activities under Type 9 (asset management). There were 23 applications for virtual asset trading platforms submitted under the Anti-Money Laundering Ordinance, including 4 from existing virtual asset trading platform license applicants under the Securities and Futures Ordinance and 19 new applications. As of March 31, 2024, two virtual asset trading platforms had been licensed under the Securities and Futures Ordinance, and 234 on-site inspections had been conducted on licensed entities and related entities.

The Securities and Futures Commission of Hong Kong stated that the first tokenized private open-ended fund company registered with the commission was established in December 2023, and the first tokenized retail gold product was approved by the commission in March 2024.