TechFlow News, May 26: Hong Kong’s Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) jointly published the consultation conclusions on the regulatory regime for providing advice on and managing virtual assets. The proposed licensing regimes for providing advice on virtual assets and for virtual asset management received broad market support during the consultation period. Consistent with the “same business, same risk, same rules” principle, the scope of the new licensing regimes will align respectively with the regulated activities under Category 4 (advising on securities) and Category 9 (asset management) under the Securities and Futures Ordinance (SFO). Together with the proposed licensing regimes for virtual asset trading and virtual asset custody, this suite of new regimes will enhance participation in Hong Kong’s digital asset market and support the development of a robust and secure ecosystem under the SFC’s “ASPIRe” roadmap. (Securities and Futures Commission, Hong Kong) (Jin10)
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