Same business, same risks, same rules, directly connected to securities and futures regulations, both custody and advisory services require licensing—compliance era has truly arrived.

Hong Kong plans to legislate on virtual asset advisory and management services, submitting legislative proposals by the end of the year to establish a comprehensive regulatory framework covering trading, custody, advisory, and asset management, and to implement mandatory licensing. The new framework adheres to the principle of "same business, same risk, same rules," aligning with securities and futures regulations, with a focus on strengthening the security of private keys and client assets. The Securities and Futures Commission emphasizes that licensing will prioritize quality, balancing market capacity with regulatory standards.