Hong Kong's financial authorities, the Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC), announced the consultation results regarding the regulatory framework for virtual asset provision and management services. The proposal to introduce a licensing regime for virtual asset services received overall support from the market. The new licensing framework will operate under the principle of ‘Same business, same risk, same rules’, and its regulatory scope will be designed to align with existing regulated activities under the Securities and Futures Ordinance (SFO). The authorities stated that they expect this system to contribute to expanding participation in Hong Kong's digital asset market and building a safe industry ecosystem.
