On July 6, the Hong Kong Securities and Futures Professionals Association announced that representatives from the Hong Kong Securities and Futures Commission (SFC), including Executive Director of Intermediaries Division Yip Chi-hang and Deputy Secretary for Financial Services and the Treasury Chan Ho-lam, held a meeting to discuss several specific policy changes. These include the removal of the previous 10% minimum exemption for virtual asset management, the immediate effectiveness of new regulations without a transition period, and other arrangements. Additionally, the SFC stated that it has communicated with the Hong Kong Securities and Investment Institute (HKSI) about separating the examinations and courses for virtual asset platform practitioners, with plans to reduce examination fees to align with the current costs of Paper 2, Paper 3, and other exams. The Hong Kong Securities and Futures Professionals Association also called for a clear distinction between technology services and regulated activities, suggesting that the SFC establish a clearer approval timeline and phased reference framework.
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Hong Kong SFC Discusses Removal of 10% Minimum Exemption for Virtual Asset Management
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