The Securities and Futures Commission (SFC) on Wednesday invited bidders to submit proposals for the design, implementation and operation of a virtual asset accelerator.
The accelerator aims to support licensed corporations, licensed virtual asset service providers and prospective VASPs in expediting the development and launch of virtual asset projects, or applications for approval to conduct virtual asset activities, within a controlled and collaborative environment.
The programme will be operated by a third-party service provider under a stringent governance and oversight framework.
According to the tender document, the accelerator is intended to ensure that all proposals submitted for the SFC’s consideration have undergone thorough risk assessments, with all key risks clearly identified and properly addressed. Proposals must also be fully compliant with the Guidelines for Virtual Asset Trading Platform Operators, the Guideline on Anti-Money Laundering and Counter-Terrorist Financing, as well as other relevant SFC requirements.
In addition, licensed industry stakeholders are encouraged to give full consideration to market readiness, regulatory requirements, operational feasibility and risk management when formulating proposals for new products and services.
The document noted that the objective is to prioritise the allocation of the SFC’s resources to projects and applications that are well-designed, equipped with appropriate safeguards, and operationally ready for implementation.
Cynthia ZHONG
