Hong Kong Financial Services and the Treasury Bureau, Hong Kong Securities and Futures Commission: Consultation Summary on the Regulatory Framework for Providing Opinions and Managing Services Related to Virtual Assets

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Golden Finance reports that on May 26th, the Hong Kong Financial Services and the Hong Kong Securities and Futures Commission issued a consultation summary regarding the regulatory framework for providing opinions and managing services related to virtual assets.
The proposed licensing system for providing opinions on virtual assets and virtual asset management received broad support from the market during the consultation period.
Under the principle of "same business, same risk, same rules," the scope of the new licensing system will align with the scope of regulated activities under the Securities and Futures Ordinance, specifically Category 4 (providing opinions on securities) and Category 9 (asset management).
Along with the proposed licensing regimes for virtual asset trading and virtual asset custody, this series of new systems will enhance participation in Hong Kong's digital asset market and help build a robust and secure ecosystem under the Securities and Futures Commission's "ASPIRe" roadmap.
(Hong Kong Securities and Futures Commission)
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