TechFlow reported, according to Hong Kong Radio, that Raymond Choi, Interim Head of the Intermediaries Division at the Securities and Futures Commission (SFC) of Hong Kong, stated that no platform currently allows retail investors to trade virtual assets. He expects that retail investors may be able to trade on licensed platforms in the latter half of this year after the guidelines take effect.
Choi emphasized that local virtual asset platforms not already operating before the implementation of the regulations, or overseas platforms without a license after the guidelines come into effect, are prohibited from conducting virtual asset trading business in Hong Kong and cannot promote such services locally; otherwise, they will face criminal liability. Platforms currently in operation will have nine months from the effective date of the guidelines to apply for a license.
He also noted that licensed platforms must ensure their clients are not engaging in transactions via "circumvention tools" (e.g., VPNs), and must verify whether IP addresses originate from jurisdictions where virtual asset trading is restricted, stressing the necessity to comply with relevant regional regulations.
