Advisor” and “Digital Asset Fund Manager” shall be two new types of digital asset business subject to SEC’s supervision. Therefore, any person who wants to conduct any of these new businesses is required to
a view to better reflect the ultimate controlling persons. The revised criteria have been effective since 4 March 2026.*The SEC considers the “source of funds” or “financial supporters” of major
risk management measures for high‑risk customers; strengthening scrutiny of major shareholders and the ultimate controlling persons of business operators; upgrading supervisory and monitoring tools
and ultimate controlling persons, is adequately disclosed to the public; (2) the client is a financial institution or a CIS under supervision of a regulator whose regulatory and oversight regime in
ultimate beneficial owners and ultimate controlling persons, is adequately disclosed to the public; (2) the client is a financial institution or a CIS under supervision of a regulator whose regulatory and
, including his ultimate beneficial owners and ultimate controlling persons, is adequately disclosed to the public; (2) the client is a financial institution or a CIS under supervision of a regulator whose
reflects ultimate controlling persons and enables such operators to maintain credible major shareholders, as well as to ensure consistency in the supervision of businesses under the SEC’s oversight. In