Hashkey receives SFC’s approval to manage crypto portfolio- Decoding details

ambcrypto.com:

Hong Kong-based HashKey Capital Limited has beengranted a license from the Securities & Futures Commission (SFC) of Hong Kong to manage portfolios invested in 100% virtual assets.

Following the uplift of its Type 9 asset management license, HashKey will be able to manage portfolios investing in crypto assets only in compliance with the SFC’s regulations. In this regard, Dr. Xiao Feng, Chairman, HashKey Group stated,  

“HashKey Group was among the first enthusiasts and advocates of the crypto industry… This Type 9 license uplift reinforces our commitment to fostering and advancing the blockchain community in Hong Kong and across Asia.”

HashKey Capital Limited is one of Asia’s leading digital asset management companies headquartered in Hong Kong with operations in Singapore and Tokyo.

The group hadraised $360 million in January this year to fund entrepreneurs and ventures engaged in creating innovative blockchain and virtual asset solutions.

Its focus areas are blockchain technologies including base-layer protocols, in addition to Web 3.0 solutions. It has invested in a number of prominent crypto projects including Polkadot, BlockFi, and Moonbeam.

In Hong Kong, cryptocurrency is not banned. But its trading is regulated by the SFC.

On 28 January 2022, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority issued a Joint Circular on Intermediaries’ Virtual Asset Related Activities that provided a blueprint of the regulation model regarding crypto assets.

It said that entities currently engaged in virtual asset-related activities need to ensure their activities are in compliance with the guidelines and regulations of the said regulatory bodies.

On 24 June 2022, the governmentgazetted the Anti-Money