Hong Kong is further improving its virtual asset regulatory framework. After the implementation of regulations for trading platforms and stablecoins, future plans include integrating trading, custody, investment advisory, and asset management services into the regulatory system, with relevant institutions required to apply for licenses from the Hong Kong Securities and Futures Commission. The authorities have made it clear that no transitional arrangements will be provided for "deemed licensed" status, and unlicensed entities are not permitted to promote related services to the Hong Kong public. The relevant legislative draft is expected to be submitted in 2026. #Crypto #Web3‌‌