Overview
- The FSTB and SFC said they will finalize proposals after a two‑month consultation with more than 190 responses and introduce a bill to LegCo in 2026 as part of the SFC’s ASPIRe roadmap.
- The plan creates licensing regimes for virtual asset dealing services, including OTC desks and brokers, and a separate regime for custodians.
- Dealer rules will sit under the Anti‑Money Laundering and Counter‑Terrorist Financing Ordinance using a “same business, same risks, same rules” approach aligned with securities intermediaries.
- Custodian requirements prioritize private‑key security and client asset segregation to reduce counterparty risk and support institutional participation.
- A parallel consultation to extend oversight to virtual‑asset advisers and managers is open with comments due Jan. 23, with regulators offering optional pre‑application discussions to prospective applicants.