Hong Kong to Submit Virtual Asset Licensing Bill Within Year, Expanding Regulatory Framework

According to Hong Kong Economic Times, Deputy Secretary for Financial Services and the Treasury Chen Haolam stated that Hong Kong targets submitting amended legislation to the Legislative Council within this year to bring virtual asset advisory and management services under the mandatory licensing regime. The new framework will align with the "same business, same risk, same rules" principle and connect with licensing categories under the Securities and Futures Ordinance. Currently, over 200 licenses have been issued, covering trading (84 firms), advisory (74 firms), and management services (63 firms).
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments