Hong Kong Expands Licensed Virtual Asset Services, Reports Significant Growth

Hong Kong Securities and Futures Commission Chairman Huang Tianyou announced in a recent speech that Hong Kong is systematically expanding the range of products and services that licensed institutions can offer. According to Odaily, this includes providing more diverse product options for professional investors, piloting secondary market trading of tokenized products, introducing virtual asset-related financing services, and establishing a regulatory framework for leveraged virtual asset products. The 12 licensed virtual asset trading platforms in Hong Kong reported a trading volume exceeding HKD 640 billion in 2025, with the first quarter of this year seeing a nearly threefold increase compared to the same period last year. Additionally, brokers involved in virtual asset-related businesses saw their commission income grow by over 80% year-on-year. On the regulatory front, Hong Kong plans to optimize its comprehensive regulatory framework for virtual assets, covering key areas such as custody, trading, asset management, and investment advisory. The public consultation on the relevant licensing system has been completed, and legislative proposals will be finalized with the Hong Kong Treasury Bureau. The aim is to submit a bill to the Legislative Council by 2026 to establish a regulatory system that aligns with international standards and strictly adheres to the principle of "same business, same risk, same rules."