TheBlock
Hong Kong's Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) have published consultation conclusions for licensing regimes covering virtual asset advisory and management services, marking what SFC CEO Julia Leung called "the final leg of our journey to complete the regulatory framework for digital assets."
The framework applies the "same business, same risks, same rules" principle, aligning virtual asset advisory and discretionary portfolio management with existing regulated activities in traditional finance. Advisory services will cover recommendations on acquiring or disposing of virtual assets; management rules apply where firms exercise discretionary control over VA portfolios.
CryptoSlate
CoinDesk
Crypto News