Hong Kong will submit a virtual asset licensing bill within a year, expanding the regulatory framework

According to the Hong Kong Economic Times, Deputy Secretary for Finance, Chen Hao-lian, stated that Hong Kong aims to submit an amended legislation to the Legislative Council this year to include virtual asset advisory and management services under a mandatory licensing regime.
The new framework will follow the principle of "same business, same risk, same rules" and align with the licensing categories under the Securities and Futures Ordinance.
Currently, more than 200 licenses have been issued, covering trading (84), advisory (74), and management services (63).