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Hong Kong Securities and Futures Commission Expands Virtual Asset Regulation

13/06 17:33

According to BlockBeats, Hong Kong Securities and Futures Commission (SFC) CEO Leung Fung-yee stated that the SFC has been regulating virtual assets since 2018 with a focus on investor protection. Amid cycles of geopolitical and digital development, Bitcoin has emerged as an alternative asset and a tool for financial dominance. Leung emphasized Hong Kong's regulatory approach of 'same business, same risk, same rules,' and announced plans to extend regulation to over-the-counter trading and custodial institutions, beyond licensed exchanges. In her keynote speech, Leung highlighted that market volatility has become the new norm in the current macroeconomic environment. As a regulatory body, the SFC must respond with flexible and robust measures to ensure the resilience of Hong Kong's market while leveraging its unique advantages to seize new opportunities. The SFC's strategy is described as comprising 'one strong shield' and 'three sharp arrows': the shield symbolizes the resilience of the market and financial institutions, while the arrows represent targeted growth strategies aimed at unlocking market potential.

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