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FSTB and SFC conclude consultations on virtual asset advisory and management regimes
27
May
May
On 26th May 2026,The Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) published consultation conclusions regarding the legislative proposal to regulate virtual asset (VA) advisory and management service providers in Hong Kong. Benefiting from broad market support, the upcoming regulatory regimes will adhere strictly to the “same business, same risks, same rules” principle. Specifically, the framework aligns with Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance.Consequently, the authorities are finalising legislative proposals under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, aiming to introduce a bill into the Legislative Council in 2026. This initiative forms a core component of the SFC’s ASPIRe roadmap, complementing parallel proposals for VA dealing, custody, trading platforms, and stablecoin issuance. Furthermore, the unified framework is designed to bridge conventional finance standards with digital assets, mitigating systemic risks while protecting investors. Overall, the SFC encourages existing and prospective market participants to initiate early pre-application discussions to ensure smooth licensing transitions and operational compliance.
Sources:https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=26PR75
Related Circular: https://apps.sfc.hk/edistributionWeb/api/consultation/openCommentFile?refNo=25CP12&commentRefNo=1