The legislative consultation summary on the regulation of service providers offering virtual asset advisory services and virtual asset management service providers by the Hong Kong Financial Secretary and the Securities and Futures Commission shows that 51 submissions mostly support establishing sub-sector regulation based on the traditional securities market regulatory framework, agree with the proposed scope and exemptions, and have proposed optimization and clarification suggestions; the two authorities plan to finalize a legislative draft based on this that covers regulations for virtual asset trading, custody, advisory services, and asset management, with plans to submit it to the Legislative Council within this year.

MeNews

2026-05-27 03:07:26

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ME News Report, May 27 (UTC+8), the Hong Kong Financial Services and the Treasury Bureau and the Securities and Futures Commission jointly issued a consultation summary regarding legislative proposals for the regulation of service providers offering virtual asset advisory services and virtual asset management service providers. A total of 51 submissions were received, with most respondents clearly supporting a regulatory framework modeled after traditional securities market regulations, establishing separate regulatory regimes for virtual asset advisory service providers and virtual asset management service providers. Additionally, respondents generally supported the proposed scope and exemptions, while also offering suggestions for optimization and seeking clarification in certain areas. The Hong Kong Financial Services and the Treasury Bureau and the Securities and Futures Commission are reviewing the collected feedback to finalize legislative proposals for virtual asset trading services, virtual asset custody services, virtual asset advisory services, and virtual asset management service providers. The goal is to submit draft regulations to the Legislative Council within this year. (Source: Foresight News)

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InstantNoodlesWithContracts

· 1h ago

Support is support, and exemption clauses must be clearly written; otherwise, small and medium-sized organizations will have a hard time surviving.

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Wax-SealedPrivateKey

· 4h ago

Fifty-one opinions count as extensive consultation; I hope the legislation won't be delayed too long.

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Neon-LitStreetsAfterTheRain

· 6h ago

Traditional frameworks wrap virtual assets; it sounds secure, but the implementation details are the key.

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BridgeBurner

· 6h ago

Submitting to the Legislative Council within this year, this efficiency is considered fast in Hong Kong.

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MemeSourdough

· 6h ago

If led by the China Securities Regulatory Commission, would there be room for collaboration with the mainland?

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ThetaSideEye

· 6h ago

Providing advisory services also requires licensing, are KOLs panicking?

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OvernightPositionPhobia

· 6h ago

Sector-specific regulation is smarter than a one-size-fits-all approach, but how to prevent cross-industry arbitrage?

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Hong Kong Virtual Asset Service Provider Regulatory Framework Consultation has received a total of 51 submissions, with the aim of tabling a draft ordinance for the Legislative Council within the year.

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