Hong Kong Expands Crypto Licensing for Dealers, Custodians
Hong Kong is moving ahead with plans to expand its regulatory framework for the virtual asset sector, as authorities prepare new licensing regimes for virtual asset dealers and custodians. The move marks another step in the city’s effort to bring more crypto-related activities under formal oversight.
The government said the new regimes will sit alongside the existing licensing system for virtual asset trading platforms, which is already supervised by the Securities and Futures Commission. Officials aim to close regulatory gaps covering firms that deal in digital assets or hold client crypto assets outside licensed exchanges.
The proposals follow public consultations conducted by the Financial Services and the Treasury Bureau and the…
