In-depth Dialogue on the Regulation and Market Development of Virtual Assets in Hong Kong
Against the backdrop of the confluence of ongoing innovations in financial regulation and the booming development of virtual assets, Ms. Julia Leung, the Chief Executive Officer of the Securities and Futures Commission of Hong Kong (SFC), recently visited the Chinese Financial Association of Hong Kong for a closed-door sharing session. Industry elites gathered at the venue, engaging in in-depth exchanges of knowledge and ideas as they jointly explored the trends in virtual asset regulation and pathways for compliant development.
During the sharing session, Ms. Julia Leung delivered a keynote speech titled "The Path of Virtual Asset Regulation in Hong Kong", systematically elaborating on Hong Kong's regulatory logic for virtual asset trading platforms based on the "Three Same Principles" of "Same Business, Same Risks, Same Rules". She recalled that since 2019, Hong Kong has, with a keen industry sense, gradually established a licensing system for trading platforms, laying a solid foundation for the standardized development of the virtual asset market. With the formal implementation of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance in 2023, SFC regulatory requirements were further refined to cover all aspects of market operations, explicitly mandating that all virtual asset trading platforms must strictly adhere to core regulatory red lines such as client asset custody, cybersecurity, and prevention of market manipulation, thus safeguarding the healthy development of the industry.
During the following sharing session, Mr. Philip Ng, Vice President of the Green Development Institute, and Ms. Ophelia Gao, Founder and CEO of GPTX Investment Management Limited (GPTX簡坤投資), drew on their profound industry insights and forward-looking strategic visions to share their perspectives on the core elements and practical pathways of the new virtual asset industry regulations. Ms. Ophelia Gao took GPTX簡坤投資's innovative practices as a starting point to elaborate on the company's compliance framework and future development blueprint in the virtual asset space.
This closed-door sharing session, held at the juncture of financial regulatory innovation and the development of virtual assets, served as a bridge for industry exchanges. It dissected regulatory logic with professional insights and anchored development directions with the concept of compliance. Leveraging its forward-looking vision and pragmatic measures, Hong Kong has laid a solid regulatory foundation and expanded the room for innovation in the virtual asset sector.