Hong Kong finalises crypto regulatory framework to lock in global hub ambitions
Hong Kong has finalised its regulatory framework for the digital asset industry, wrapping up a public consultation on a new licensing regime for firms advising on and managing virtual assets. Signalling a milestone in the city’s quest to become a global crypto hub, the Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) said on Tuesday that the proposed rules received “broad market support” and would head to the Legislative Counci
Hong Kong has officially completed its regulatory framework for the virtual asset sector. This move aims to solidify the city's position as a leading global hub for cryptocurrency. The new licensing system for companies involved in advising on and managing digital assets has concluded its public consultation phase. Both the Financial Services and the Treasury Bureau and the Securities and Futures Commission indicated that the proposed regulations garnered significant backing from the market. These rules are now set to be presented to the Legislative Council.
This development signals Hong Kong's commitment to integrating digital assets into its financial ecosystem, potentially attracting more businesses and investment in the virtual asset space.
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