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CPIC Investment Management (H.K.), a subsidiary of China Pacific Insurance Group, has improved its Hong Kong Securities and Futures Commission-licensed Type 1 security dealing and Type 4 securities consulting activities to develop virtual assets. The improvement lets CPIC Investment Management Hong Kong distribute and advise funds with virtual asset allocations beyond 10%.
CPIC Investment Management Hong Kong Focuses on Web3
Virtual assets and the Web3 business have a worldwide influence, according to CPIC Investment Management Hong Kong CEO CG Zhou. Citing the Hong Kong government’s virtual asset rules and measures from last year, the individual voiced confidence in the sector’s responsible and steady expansion.
CPIC Investment Management Hong Kong, a long-standing financial organization with solid governance, risk management, and compliance records, wants to promote Hong Kong as a worldwide Web3 and virtual asset hub. To safeguard investors, the business sponsors virtual assets and Web3 initiatives.
CPIC Investment Management Hong Kong’s virtual asset improvement follows compliance and regulatory standards. The company’s enhanced license status permits it to continue fund distribution and investment advising while supporting virtual asset efforts. CPIC Asset Management Hong Kong will collaborate with respected organizations to develop a sustainable and socially responsible virtual asset ecosystem, promoting Web3 technology in Hong Kong.
CPIC Asset Management Hong Kong to Advise Funds with Virtual Asset Allocations Over 10%
Hong Kong virtual asset service provider licensing history is academically significant. The Hong Kong Securities and Futures Commission and Monetary Authority released the “Joint Circular on Virtual Asset-Related Activities of Intermediaries” in January 2022. The circular clarified virtual asset intermediary distribution, trading, and associated service regulations. Virtual asset platform operators need regulatory authorization.
CPIC Asset Management Hong Kong’s regulated business license upgrading is notable. During the previous biennium, the group focused on virtual asset businesses. On September 22, 2023, CPIC Asset Management Hong Kong received authorization to upgrade its Type 1 and Type 4 regulated business licenses after careful planning and ongoing discussions with the Hong Kong Securities Regulatory Commission. With this authorization, the organization can quickly distribute and advise funds with virtual asset allocations exceeding 10%. This result shows CPIC Asset Management Hong Kong’s commitment to regulatory compliance and investor-focused virtual asset services.