Virtual Assets

Hong Kong's regulators have completed consultations on a new licensing regime for virtual asset dealers and custodians, aiming to bolster institutional trust in the crypto market. The Financial Services and the Treasury Bureau (FSTB) and Securities and Futures Commission (SFC) announced the changes on Christmas Eve, aligning crypto operations with traditional securities standards. This move completes the SFC's ASPIRe roadmap and signals further regulations for advisors and managers.