Virtual Asset Listing Requirements

Virtual Asset Listing Requirements

【Updated as at 15 June 2020】

Virtual assets are listed and traded on the APX.HK platform, and the following conditions need to be met and fulfilled:

1. The virtual asset must pass the due diligence and thorough KYC registration procedure performed by HKSTOX Limited;
2. The underlying network of the virtual asset must show its existing actual value;
3. The virtual asset should have existing blockchain products or existing businesses, and will use blockchain technology;
4. The virtual asset can only be traded on the APX.HK platform after at least 12 months after the completion of the initial public token issuance or when the project begins to generate profits (whichever is earlier);
5. The virtual asset must have a reasonable development community activity level;
6. The virtual asset must have a reasonable level of adoption throughout the ecosystem;
7. The virtual asset should have healthy demand and supply, maturity and liquidity, including but not limited to healthy market value and daily trading volume;
8. The marketing materials of the virtual asset must be accurate and not misleading;
9. The blockchain and network scale of the virtual asset must be healthy so that it can resist 51% attacks;
10. The virtual asset must provide a legal opinion issued by a registered lawyer in Hong Kong;
11. The virtual asset must pass the smart contract audit, which should be performed by a smart contract auditor recognized by the HKSTOX Limited;
12. The virtual asset must be approved by the HKSTOX Limited Virtual Asset Listing Management Committee, which evaluates the digital asset from the perspective of compliance, technology, marketing, and launch;
13. The virtual asset must be approved by the Hong Kong Securities and Futures Commission (SFC) in written form.