香港特別行政區的財經事務及庫務局（FSTB）及證券及期貨事務監察委員會（SFC）於週二公布了就根據《反洗錢及反恐怖分子資金籌集條例》規管虛擬資產諮詢及虛擬資產管理服務的發牌制度所作的諮詢結論。諮詢顯示業界對擬議制度普遍支持；受訪者大多同意在「同一業務、同樣風險、同樣規則」原則下的政策方向。該框架將虛擬資產諮詢及管理的適用範圍，與現有涵蓋證券諮詢及酌情式資產管理的受規管活動一致。這項監管發展，代表香港完善數碼資產發牌架構的工作已告完成；該架構亦包括就虛擬資產交易及託管服務的平行建議。
Framework Scope and Structure
Under the proposed structure, advisory services would capture business activities involving recommendations on the acquisition or disposal of virtual assets. Management rules would apply where firms exercise discretionary control over virtual asset portfolios.
The regimes set baseline financial resources requirements, including minimum liquid capital of HKD 100,000 ($12,760) for firms not holding client assets, and up to HKD 5 million ($638,095) in paid-up capital alongside HKD 3 million ($328,862) in liquid capital where client assets are held.
Dual Licensing and Capital Requirements
Dually licensed entities will not face double regulatory capital requirements, instead defaulting to the highest capital floor among their authorized activities. This provision simplifies compliance for firms operating across multiple regulated virtual asset services.
下一步
FSTB 及 SFC 目標於 2026 年向立法會提交法案。鼓勵現有及潛在的虛擬資產諮詢及管理服務提供者盡早與 SFC 接洽，以開展申請前討論。
SFC 行政總裁梁君彤表示：「進一步諮詢結論的出台，標誌著我們完成數碼資產監管框架之旅的最後一段，為我們生態系統的長期擴展鋪路。業界的普遍支持，顯示對健全而全面的監管有迫切需求。新制度將與傳統金融服務的標準看齊，在促進負責任的創新同時，加強對投資者的保障。」
