Hong Kong Treasury Bureau and Securities Regulator Release Consultation Conclusions on Licensing of Virtual Asset Trading and Custody

BlockBeats News, December 24th, according to a consultation summary jointly issued by the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC), Hong Kong will further advance the licensing regime for virtual asset trading and custody service providers. This is aimed at strengthening the regulation of virtual asset trading and custody services to ensure the stability and sustainable development of the market.

The consultation also mentioned that Hong Kong will conduct a further one-month public consultation for virtual asset portfolio management services and advisory service providers, and it is expected that this regime will be similar to the regulatory regime of the traditional securities market, clearly defining regulated activities under different virtual asset licensing regimes.