The Securities and Futures Commission (SFC) outlined a 12-point strategy today to boost Hong Kong’s virtual asset (VA) market.
The ‘ASPIRe’ roadmap is made up of five-pillars - Access, Safeguards, Products, Infrastructure, and Relationships. As part of the ‘Relationships’ pillar, the SFC recently gathered for the inaugural meeting of the virtual asset consultative panel with senior management of all licensed virtual asset trading platforms.
Aims of the ‘ASPIRe’ roadmap are to streamline global liquidity, strengthen security compliance and product frameworks, and modernise financial infrastructure to leverage blockchain efficiency.
Key measures include new regulations for VA custodians and over-the-counter services, expanded product offerings, enhanced trading platform operational requirements, and initiatives to combat illicit activities, educate investors, and engage stakeholders.
The roadmap has been designed as a strategic response to emerging challenges in the VA market, future-proofing the ecosystem. As explained by Dr Eric Yip, the SFC’s executive director of intermediaries: “The roadmap is not a final destination but a living blueprint, one that invites collective efforts to advance Hong Kong’s vision as a global hub where innovation thrives within guardrails”.