Hong Kong Initiates Public Consultation on Virtual Asset Regulation

According to PANews, Hong Kong's Financial Services and the Treasury Bureau, along with the Securities and Futures Commission (SFC), have launched a public consultation on the regulatory framework for virtual asset trading and custody service providers. The proposed framework aims to empower the SFC to license and supervise these service providers, enforcing relevant regulations. The SFC will also be responsible for establishing compliance standards for these critical service providers, adhering to the principle of 'same business, same risk, same rules' to ensure robust investor protection and maintain market integrity. The deadline for submitting opinions is August 29, 2025.