On July 7, 2025, the Securities and Futures Commission ("SFC") held the second meeting of the Digital Asset Consultative Panel ("DACP") with licensed virtual asset trading platforms ("VATPs") to discuss market developments and regulatory proposals for virtual asset dealing and custodian providers. The SFC remains committed to maintaining global competitiveness while ensuring investor protection.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On July 7, 2025, the Securities and Futures Commission ("SFC") convened the second meeting of the Digital Asset Consultative Panel ("DACP") with SFC-licensed virtual asset trading platforms ("VATP"). The meeting focused on various regulatory and market developments within the digital asset sector in Hong Kong, with a particular emphasis on initiatives under Pillars A and P of the SFC’s ASPIRe roadmap.
The meeting addressed proposals for new regulatory frameworks for virtual asset dealing and custodian providers, as well as enhancements in market accessibility and product offerings. Dr. Eric Yip, the SFC’s Executive Director of Intermediaries and chair of the DACP, commended the session for its constructive and insightful nature, underscoring the importance of collaboration with VATPs to foster a sustainable and competitive digital asset ecosystem.
Dr. Yip emphasized that the SFC remains committed to global competitiveness while ensuring robust investor protection and local safeguards in the digital asset sector. The SFC will continue its proactive partnership with VATPs through the DACP as part of the initiatives outlined under Pillar Re (Relationships) of the ASPIRe roadmap.
The consultative panel has been renamed to align with the terminology used in the Government's Policy Statement 2.0 on the Development of Digital Assets in Hong Kong, issued on June 26, 2025. The inaugural meeting details can be found in the SFC’s press release from February 14, 2025. Additionally, the ASPIRe roadmap was released on February 19, 2025, and a joint consultation with the Financial Services and the Treasury Bureau and the SFC on regulatory regimes for virtual asset dealing and custodian service providers has been recently launched, with details available in the SFC’s press release from June 27, 2025.
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