Hong Kong’s Financial Services and the Treasury Bureau and the Hong Kong Securities and Futures Commission (SFC) have launched a joint consultation on proposals to introduce regulatory regimes for virtual asset (VA) dealing services and VA custodian service providers. The regimes would empower the SFC to license and supervise these entities and to enforce the relevant requirements. Under the proposals, the SFC would set expected standards for VA dealers and custodians to support investor protection and market integrity, applying the “same business, same risks, same rules” principle. The consultation is positioned as a step in implementing the SFC’s ASPIRe roadmap, including its “Access” pillar, and follows the Government’s Policy Statement 2.0 on the Development of Digital Assets in Hong Kong. Comments are invited until 29 August 2025.
Hong Kong Securities & Futures Commission 2025-06-27
Hong Kong Securities and Futures Commission and Financial Services and the Treasury Bureau launch consultation on licensing regimes for virtual asset dealers and custodians
Hong Kong's Financial Services and the Treasury Bureau and the Securities and Futures Commission have initiated a consultation on regulatory regimes for virtual asset dealing and custodian services. The proposals aim to empower the SFC to license, supervise, and enforce standards, ensuring investor protection and market integrity. This aligns with the SFC's ASPIRe roadmap and the Government's Policy Statement 2.0 on digital asset development.