The post SEBA Bank Granted Authorization for Digital Asset Solutions in Hong Kong by the Securities and Futures Commission appeared first on Coinpedia Fintech News
The Securities and Futures Commission of Hong Kong has granted SEBA Bank, a Swiss digital currency bank, authorization for its branch to deliver digital asset-related solutions in the area.
SEBA made an announcement today stating that it has obtained a permit that grants SEBA Hong Kong the authority to engage in the trading and circulation of all securities containing commodities pertaining to digital assets, such as over-the-counter derivatives and complex products that have digital assets as their underlying assets.
SEBA is permitted to provide guidance on securities and digital assets, as well as manage assets for discretionary clients in the areas of conventional securities and virtual assets.
Zug headquartered SEBA Bank, based in Zug, Switzerland, has been granted a digital asset license by Hong Kong’s Securities and Futures Commission, authorizing it to undertake regulated activities related to digital assets. The license enables SEBA to deal in and distribute all securities, including virtual asset-related products, and engage in asset management for discretionary accounts in both traditional securities and virtual assets. The move comes as SEBA’s CEO, Guido Bühler, highlighted the difficulty faced by “crypto natives” in accessing Treasury bills and bonds, advocating that digital currencies be integrated into asset management.
Upcoming Plans for Licensing Regime
The Hong Kong government has been working closely for the past few months to launch a new licensing regime for virtual asset service providers and to consult on ways in which retail investors can gain access to VAs. Along with that, the Hong Kong Monetary Authority is expected to announce the consequences of its consultation on the regulatory framework for stablecoins. The government will also be testing the potential of virtual assets through a range of pilot projects, including non-fungible token issuance for Hong Kong Fintech Week 2022, e-HKD, and green bond tokenization.
#News #CryptoRegulations [Source: Coinpedia]