Hong Kong Securities and Futures Commission announces new regulatory framework allowing tokenized investment products approved by the SFC to be bought and sold in the secondary market

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The Hong Kong Securities and Futures Commission (SFC) announced today a new regulatory framework to promote the trial in Hong Kong of secondary market trading of tokenized investment products approved by the SFC (tokenized products), with the long-term aim of fostering the development of digital asset trading activities in Hong Kong and supporting further growth of the ecosystem. The circular issued by the SFC contains new guidance. Its primary purpose is to facilitate secondary market trading of SFC-approved open-ended funds approved by the SFC on licensed virtual asset trading platforms, further expanding regulated trading services available to retail investors. However, the SFC will also, on a case-by-case basis, consider allowing arrangements for over-the-counter secondary market trading.

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