Hong Kong Securities and Futures Commission releases consultation summary on virtual asset regulatory system

According to the Securities and Futures Commission of Hong Kong, the Hong Kong Treasury and the Securities and Futures Commission have released a consultation summary on the regulatory system for virtual assets, and the proposed virtual asset licensing system has received widespread market support. The new system follows the principle of "same business, same risk, same rules", is consistent with the scope of regulated activities in categories 4 and 9 of the Securities and Futures Ordinance, and covers virtual asset trading and custody licensing systems, aiming to enhance participation in the Hong Kong digital asset market and build a stable and secure ecosystem.