The Securities and Futures Fee (SFC) has introduced a brand new regulatory roadmap, ASPIRe, outlining 12 key measures to bolster Hong Kong’s place as a worldwide digital asset hub. Notably, the initiative focuses on enhancing safety, fostering innovation, and increasing market progress.
Key Pillars of the SFC’s ASPIRe
The ASPIRe roadmap consists of 5 pillars: Entry, Safeguards, Merchandise, Infrastructure, and Relationships.
For context, these elements purpose to facilitate world liquidity entry, strengthen regulatory compliance, and combine blockchain expertise into conventional finance.
Key measures embody:
A regulatory framework for over-the-counter (OTC) buying and selling of digital belongings and custody companies.Growth of digital asset services and products.Optimized operational necessities for buying and selling platforms.Measures to fight illicit actions and improve investor schooling.Strengthened engagement with stakeholders.
Regulatory and Business Affect
“The brand new roadmap adheres to the core ideas of investor safety, sustainable liquidity, and versatile regulation,” stated Dr. Ye Zhiheng, Government Director of the Intermediaries Division on the SFC within the announcement. “It gives a structured method to overcoming challenges within the evolving digital asset market and advancing Hong Kong’s ecosystem.”
Dr. Ye emphasised that the roadmap is an evolving framework requiring collaborative efforts from regulators, trade individuals, and buyers to determine Hong Kong as a worldwide innovation hub whereas sustaining sturdy investor safeguards.
Strengthening Stakeholder Engagement
As a part of the ‘Relationships’ pillar, the SFC lately convened the primary assembly of its Digital Asset Advisory Group. Senior executives from licensed digital asset buying and selling platforms participated in discussions aimed toward enhancing communication and regulatory readability.
Hong Kong has been steadily positioning itself as a number one jurisdiction for digital belongings, with previous initiatives together with the licensing regime for buying and selling platforms and the authorization of spot Bitcoin and Ethereum exchange-traded funds (ETFs).
Notedly, the ASPIRe roadmap alerts the federal government’s dedication to strengthening oversight whereas fostering innovation.
Market individuals are anticipated to assessment and adapt to the brand new measures within the coming months because the SFC rolls out particular regulatory updates.
