6️⃣ The Securities and Futures Commission proposes to remove the provisions regarding "security tokens" from the "Terms and Conditions of Virtual Asset Trading Platforms" and incorporate them into the "Guidelines for Virtual Asset Trading Platforms";

7️⃣ If the relevant virtual assets are sold to retail customers, the previous practice will be followed, that is, the licensed platform operator should seek approval from the Securities and Futures Commission in advance for the relevant plan before including the relevant virtual assets for trading;

8️⃣ The Securities and Futures Commission proposes to establish a 12-month transition period. Virtual asset trading platforms must be original platforms and have been operating in Hong Kong and establishing meaningful and substantive business before June 1, 2023, in order to be eligible to participate in the transition arrangement . #Binance #ETH #nft