TechFlow News, July 06. On July 3, the Hong Kong Securities and Futures Industry Professional Association met with representatives from the Hong Kong Financial Services and the Treasury Bureau and the Securities and Futures Commission to exchange views on issues such as new virtual asset policies, licensing regime, operating costs, and the Virtual Asset Platform Operator Associate Examination (CVAP). During the meeting, the Association expressed concerns regarding the CVAP examination authorization and system transparency. The SFC responded that it will promote the separation of courses and examinations and reduce examination fees.
In addition, the Association also reflected that virtual asset trading platforms are under pressure regarding compliance and operating costs, suggesting a review of requirements such as Hardware Security Modules, cold and hot wallet ratios, insurance coverage, and on-chain transfers. Both sides also discussed issues such as regulatory boundaries for technology services, licensing approval transparency, innovative product approval, regulatory division of labor for virtual asset payments, and guidelines for private fund self-custody.
