Hong Kong Regulator Greenlights Victory Securities For Crypto Investments

Shengli Securities, a Hong Kong-based financial services company, has issued a notice to its shareholders and investors that its subsidiary, Victory Securities, has received approval from the Hong Kong Securities and Futures Commission to manage a portfolio in virtual assets. This move is considered significant in view of the rapid development of virtual assets in recent years. The approval from the Hong Kong Securities and Futures Commission is subject to the “Terms and Conditions” standard for a licensed portfolio management company that invests in virtual assets. Such approval gives Victory Securities the go-ahead to manage a portfolio in virtual assets and to provide asset management services related to virtual assets. The company’s management believes that this development will positively impact the group’s future growth. By providing asset management services related to virtual assets, the company will be able to offer customers more diversified services.