Hong Kong Securities and Futures Commission: New licensing legislation for virtual asset OTC Trading and custody is expected to take at least one year.

2025-05-22 06:50:31

Golden Finance reports that Yip Chi-hang, the Executive Director of the Intermediary Institutions Division of the Hong Kong Securities and Futures Commission, stated that the primary task in the short term is to launch new regulatory licenses for OTC Trading of virtual assets and virtual asset custody. The commission will cooperate with the Hong Kong government to consult on the two new licenses and submit legislative proposals, with legislation expected to take at least one year, and full implementation possibly taking about one and a half to two years. In addition, Yip disclosed that as the market develops, they will consider expanding product choices for professional investors and will publicly announce plans for adjustments to the market mechanism.

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