Techub News reports that the Financial Services and Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) have launched a joint consultation today to introduce a regulatory framework for virtual asset trading service providers and custodians.
The proposed system will empower the Securities and Futures Commission (SFC) to license and supervise virtual asset trading service providers and custodial service providers, and enforce relevant regulations. The SFC will also be responsible for setting compliance standards for these two important types of service providers, based on the principle of "same business, same risk, same rules," to ensure robust investor protection measures and maintain market integrity. This also reflects the SFC's active implementation of various plans under the "ASPIRe" roadmap, continuing to build a vibrant yet secure and resilient digital asset market with sustainable development as a prerequisite.
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Techub News reports that the Financial Services and Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) have launched a joint consultation today to introduce a regulatory framework for virtual asset trading service providers and custodians.
The proposed system will empower the Securities and Futures Commission (SFC) to license and supervise virtual asset trading service providers and custodial service providers, and enforce relevant regulations. The SFC will also be responsible for setting compliance standards for these two important types of service providers, based on the principle of "same business, same risk, same rules," to ensure robust investor protection measures and maintain market integrity. This also reflects the SFC's active implementation of various plans under the "ASPIRe" roadmap, continuing to build a vibrant yet secure and resilient digital asset market with sustainable development as a prerequisite.