Hong Kongs Treasury Department and the SFC consult on the proposed regime for regulating virtual asset trading and custody service providers

Odaily News The Hong Kong Treasury Bureau and the Hong Kong Securities and Futures Commission launched a joint consultation today to introduce a regulatory regime for virtual asset trading service and custody service providers. The proposed system will empower the Securities and Futures Commission to license and supervise virtual asset trading service providers and custody service providers, and enforce relevant regulations. The Securities and Futures Commission will also be responsible for setting compliance standards for these two important service providers, ensuring robust investor protection measures and maintaining market integrity based on the principle of same business, same risks, same rules. This also reflects that the Securities and Futures Commission is actively implementing various plans under the ASPIRe roadmap, and will continue to build a digital asset market that is both vibrant, safe and robust based on sustainable development. (Hong Kong Securities and Futures Commission)