Overview

This core curriculum consists of three training modules and a post-course examination as part of the Certification Programme for Virtual Asset Professionals (CVAP).

Before enrolling, please refer to the User Guide for details on the process and requirements

The three training modules provide essential knowledge on regulatory, industry, and product related topics, including VA regulations, VA-related products in traditional finance, VA features, risks, and underlying technologies.

Module 1: Covers the VA market landscape, key use cases, risks, and products. It also introduces blockchain fundamentals, smart contracts, and the differences between centralised and decentralised finance.

Module 2: Focuses on common VA-related products, their benefits, risks, and implications for the traditional financial market.

Module 3: Provides an overview of Hong Kong’s legal and regulatory framework for VA activities, including key principles, obligations, risks, and the consequences of non-compliance.

The post training examination is to assess participants’ general understanding of the subject matters covered in the three core training modules.

The examination is held monthly. Participants who enrol in the core curriculum MUST schedule their examination within 90 days of their enrolment date. Please refer to examination schedule for the post training examination date and Step 2 of the Scheduling Guide for detailed procedures.

If participants know in advance that they are unable to attend the examination on their scheduled date, they may reschedule to any available session within the 90-day period from their enrolment date. Rescheduling must be completed at least six full days before the originally scheduled examination session.

Note: Examination candidates must complete all three modules (as stated above) at least five working days before the scheduled examination date, otherwise they will not be allowed to sit for the examination.

Objective

By completing the core curriculum, you will be able to:
- Describe the VA market landscape, key VA types, associated risks, products, and services
- Explain blockchain technology, including its features, consensus mechanisms, and applications
- Describe smart contracts, their applications, risks, and wallet types
- Compare centralised and decentralised finance, and outline VA product features, risks, and implications for traditional finance.
- Summarise Hong Kong’s VA regulations, including licensing, investor protection, and compliance requirements
- Identify AML/CFT measures, reporting steps, and consequences of non-compliance with VA regulations

Content

Module 1: Introduction to Virtual Assets
- Overview of VAs
- The technologies underlying VAs

Module 2: Overview of VA-related Products in Traditional Financial Market
- VAs beyond cryptocurrencies
- Benefits and common risks of the products
- VA-related Products
- Implication of such product to the traditional finance world
- What you should be aware as a financial practitioner

Module 3: Overview of the Virtual Assets Regulatory Landscape in Hong Kong
- Overview of tokenisation and virtual asset regulations in Hong Kong
- VA regulations and exclusions under AMLO
- Risks and categorisation of VAs
- VA-related activities and licensing regime
- Misconduct in VA Activities

Who should attend

The target audience includes professionals pursuing the CVAP, such as:

- Virtual asset (VA) dealing or advisory practitioners
- VA-related product distributors
- Private or retail wealth managers
- Traditional finance professionals with an interest in virtual assets

Financial Incentive Scheme of the WAM Pilot Programme

This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by Hong Kong Securities and Investment Institute, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme. Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).

Participants must attend all the fundamental units of the training course to sit for the examination. Participants who do not pass the post-training examination must retake and pass the re-examination within 1 month from the date of his/her first examination to qualify for the reimbursement.