Hong Kong Treasury and Securities and Futures Commission consult on proposed regulatory framework for virtual asset trading services and custody service providers

The Hong Kong Treasury Board and the Hong Kong Securities and Futures Commission launched a joint consultation today to introduce regulatory systems for virtual asset trading services and custody service providers. The proposed system will empower the China Securities Regulatory Commission to license and supervise virtual asset trading service providers and custody service providers, and enforce relevant regulations. The China Securities Regulatory Commission will also be responsible for formulating compliance standards for these two important service providers, ensuring robust investor protection measures and maintaining market integrity based on the principle of "same business, same risk, same rules". This also reflects that the China Securities Regulatory Commission is actively implementing various plans under the "ASPIRe" roadmap, and will continue to build a dynamic and safe digital asset market with sustainable development as the premise.