According to Ming Pao, the HKMA and the Securities and Futures Commission plan to hold a consultation on the licensing system for virtual asset trading and custodial service providers in June, and are expected to issue a consultation summary in the first half of next year. Hui Cheng-yu, secretary of the Hong Kong Treasury, said that virtual asset trading custodial services will be managed by the Securities Supervision Commission as the main regulator, and when the service involves banks, the HKMA will be the front-line regulator.
In addition, Xu Zhengyu mentioned that the current stage is only the consultation and collection of market opinions. Whether or not the "deemed licensed" arrangement will be established for service providers, market participants will be fully expected; if the final plan is implemented in accordance with the new proposal, it will ensure that sufficient regulatory and other resources are "in place" to process license applications.
Hong Kong plans to have the Securities Supervision Commission lead the supervision of virtual asset trading custody services
2025-07-07 03:43:52
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