A Bureaucrat’s Love Affair With Crypto: Hong Kong’s Dizzying Legal Tango with HashKey 💼💰

by

“A Bureaucrat’s Love Affair With Crypto: Hong Kong’s Dizzying Legal Tango with HashKey 💼💰”

A Bureaucrat’s Love Affair With Crypto: Hong Kong’s Dizzying Legal Tango with HashKey 💼💰

Have you ever heard of beggars striking it rich overnight? Well, this isn’t that story, though the suits at HashKey Capital might disagree! 🍷💼 A decree straight from the bureaucratic heavens—the Hong Kong Securities and Futures Commission (SFC)—has bestowed upon them the celestial Type 9 license, granting them the divine right to manage virtual assets for professional investors. Professional investors, you ask? Oh yes, the priestly caste of finance who apparently need bespoke crypto management services to spice up their portfolios.

🚨 HashKey Capital Secures SFC Approval for Virtual Asset Discretionary Account Management 🇭🇰
We’re now authorized to expand access to compliant, institutional-grade crypto investment strategies to professional investors.
🔗 Full announcement: 🧵👇

— HashKey Capital (@HashKey_Capital) February 5, 2025

This so-called ‘approval’ elevates HashKey Capital to the rarefied air of a handful of managers who can not only play with spot crypto but also juggle derivatives. Naturally, it all happens within a “pre-approved” playground of trading platforms, reminiscent of a sanitized sandbox where toddlers—uh, investors—get both freedom and supervision. Freedom! Compliance! What a combo made in financial heaven! 😂

“With our discretionary account management services, we provide clients with the confidence to explore this sector,” said Vivien Wong, the Partner of Liquid Funds, probably while sipping earl grey with a hint of sarcasm. “Backed by expertise, we’ll handle your Crypto Holy Grails so you don’t accidentally buy an NFT of a banana.” (Okay, maybe we added the last part.)

Full Investment Lifecycle Management: OTC, Derivatives… and a Side of Drama

Hong Kong’s ambition to crown itself the Prince of All Crypto Hubs in Asia takes another step forward! Sure, its progressive laws shine like polished brass, but certain shadows linger in the corners—those pesky over-the-counter trading regulations and derivatives still playing their favorite game of hide-and-seek.

But fret not, for HashKey Capital, the knight-errant of compliance, has arrived to lend a hand! Now, the theoretically wise professional investors—they of foresight and unlimited spreadsheets—can dabble in OTC trading, staking, and even derivatives (no, not the Calculus kind). All tailored with the subtlety of an opera singer in a karaoke bar. 🎤

“From portfolio allocation to ongoing risk management, we handle everything except your mid-life financial crisis,” (fine, they didn’t say that part literally) HashKey hinted. Bravo! Investors can also jump between vetted exchanges like children on a bouncy castle—all while their security and compliance are firmly babysat.

Beyond Asia: HashKey’s License-Collecting Roadtrip 🌏✈️

Hong Kong may be the main act, but HashKey’s regulatory romance stretches far and wide. Across the Irish Sea, leprechauns hand-delivered a Virtual Asset Service Provider (VASP) license from Ireland’s Central Bank. Some were probably rolling their eyes, but it happened—true story.

Meanwhile, back in Hong Kong, the stars aligned yet again in May 2024 as HashKey snagged a Type 4 license from the SFC. Microbrewery of regulatory history, anyone? They also became the first licensed shop offering securities and virtual advisory to even the maddeningly cautious retail investors. When the AMLO license hit the headlines, it felt like a bingo hall moment at HashKey HQ. “We got it! Trading platform incoming!” 🎉

🌐 We’ve secured the Capital Markets Services (CMS) license from @MAS_sg! As a licensed fund management company (LFMC), this empowers us to provide regulated fund management services in the realm of capital markets products. 🏦💼
@techinasia 📰👇

— HashKey Capital (@HashKey_Capital) December 19, 2023

Singapore didn’t stay far behind either. In December 2023, as the winter holidays rolled in, HashKey’s Singapore branch unwrapped an early gift—a Capital Markets Services (CMS) license, sort of like the finance world’s equivalent of obtaining a driver’s license but much, much drier. The Monetary Authority of Singapore (MAS) might not wear Santa hats, but you can imagine they enjoyed a good laugh over this!

Read More

2025-02-05 13:28