According to Wu Shuo, based on the consultation summary jointly issued by the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC), Hong Kong will further advance the licensing regime for virtual asset trading and custody service providers. This move aims to strengthen the regulation of virtual asset trading and custody services, ensuring market stability and sustainable development. The consultation also mentioned that for virtual asset management services and advisory service providers, Hong Kong will conduct a one-month further public consultation. It is expected that this regime will be similar to the regulatory system of traditional securities markets and will clearly define the regulated activities under different virtual asset licensing regimes.
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According to Wu Shuo, based on the consultation summary jointly issued by the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC), Hong Kong will further advance the licensing regime for virtual asset trading and custody service providers. This move aims to strengthen the regulation of virtual asset trading and custody services, ensuring market stability and sustainable development. The consultation also mentioned that for virtual asset management services and advisory service providers, Hong Kong will conduct a one-month further public consultation. It is expected that this regime will be similar to the regulatory system of traditional securities markets and will clearly define the regulated activities under different virtual asset licensing regimes.