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The Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong, Leung Fung-yee, officially released the Hong Kong Virtual Asset Development Roadmap at the Consensus Hong Kong 2025 forum today, planning the future direction of market regulation and formulating a forward-looking strategy.
The key points of this roadmap are to expand the products and services of virtual asset trading platforms, including considering the opening of virtual asset staking, and allowing professional investors to trade derivative products. In addition, the SFC is also evaluating the opening of margin lending, allowing qualified investors to use leverage to increase market liquidity.
On the regulatory front, the SFC will also make synchronous adjustments, strengthening the regulations on virtual asset custody, including the security management of hot wallets and cold wallets, and reviewing the custody and insurance mechanisms to ensure market safety and compliance.
12 Regulatory Initiatives Established, Policy Implementation Still Needs Observation
Regarding this roadmap, Ip Chi-hang, the Executive Director of the Intermediaries Division of the Hong Kong SFC, revealed that this roadmap includes 12 regulatory initiatives, but no specific implementation timeline has been set. He emphasized:
It is not difficult to formulate a roadmap, but the challenge is how to implement it. The market changes rapidly, and the regulatory authorities must also keep up. Although there is no hard timeline, some policies can be implemented first to show progress to the market.
Ip Chi-hang also mentioned that the SFC has established a Virtual Asset Advisory Group, with members including the management of all licensed virtual asset trading platforms in Hong Kong, to ensure that the regulatory direction is consistent with the market development needs.
Hong Kong Accelerates the Construction of the Web3 Ecosystem to Attract Blockchain Companies
In addition to adjusting the regulatory framework, the Hong Kong government is also accelerating its investment in the Web3 industry. Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region, stated at the forum that Hong Kong is actively building a stable, open, and competitive digital asset market, and will continue to strengthen the infrastructure and talent cultivation.
According to the latest data, the Hong Kong Cyberport currently has more than 270 blockchain companies, with over 120 new additions in the past 17 months, indicating that Hong Kong's attractiveness in the Web3 field is continuously increasing. In the future, the Hong Kong government will further promote infrastructure, regulatory optimization, and industry cooperation to attract more international companies and institutional investors to set up operations.
