HKPF and SFC establish joint working group on VATPs

Following the introduction of a new licensing regime for virtual asset service providers and recent investigations involving JPEX, an unregulated crypto-asset trading platform, the Securities and Futures Commission of Hong Kong (SFC) and the Hong Kong Police Force (HKPF) have launched a joint workforce („dedicated working group“) to „enhance collaboration in monitoring and investigating illegal activities related to virtual asset trading platforms (VATPs)“. The group includes representatives from various HKPF bureaus and SFC divisions with the primary objectives to share information regarding suspicious activities and violations of VATPs, establish a mechanism for assessing VATP-related risks, and improve coordination in investigative efforts.
In a corresponding statement issued by the SFC, the Commission states that the new group should facilitate the joint fight against illegal VATPs activities and thus protect the interest of investors.