SFC Kicks Off Virtual Asset Growth in Hong Kong

Coin WorldSaturday, Feb 15, 2025 6:46 am ET
1min read

The Hong Kong Securities and Futures Commission (SFC) has initiated a significant step towards fostering the growth of virtual assets in the region. The SFC held its first consultation meeting with licensed virtual asset trading platforms (VATPs) on February 14th, aiming to enhance the liquidity of virtual asset transactions and strengthen Hong Kong's competitiveness in the global virtual asset landscape.

Ashley Alder, CEO of the SFC, emphasized the importance of establishing a virtual asset development roadmap. This roadmap will focus on product diversification, virtual asset custody, and over-the-counter (OTC) trading consultations. By engaging with licensed VATPs, the SFC seeks to gather valuable feedback to improve the future operation of these platforms.

The SFC's proactive approach to virtual asset regulation is a testament to Hong Kong's commitment to embracing innovation in the financial sector. As the global demand for virtual assets continues to grow, Hong Kong's strategic positioning as a major financial hub can be further solidified by fostering a robust and well-regulated virtual asset ecosystem.

The establishment of a virtual asset development roadmap will not only benefit Hong Kong but also contribute to the international competition in this rapidly evolving space. By providing assistance in virtual asset custody and OTC trading consultations, the SFC is demonstrating its dedication to supporting the growth of the virtual asset industry while ensuring the protection of investors and maintaining market integrity.