The Hong Kong Securities Regulatory Commission releases "ASPI-Re" roadmap to plan the virtual asset market supervision framework

PANews reported on February 19 that according to the latest regulatory roadmap "ASPI-Re" released by the Hong Kong Securities Regulatory Commission (SFC), Hong Kong will further improve the supervision of virtual assets to balance innovation and risk management. The global virtual asset market exceeded US$3 trillion in 2024. SFC has established a series of regulatory mechanisms since 2018, including the Virtual Asset Trading Platform (VATP) license and the first batch of spot ETFs in Asia. However, the market still faces problems of liquidity fragmentation, regulatory arbitrage and investor protection.

The roadmap includes five pillars: market access, security guarantees, product innovation, infrastructure construction, and relationship management, and proposes 12 measures, such as optimizing the license system, Promote OTC and custody services supervision, research and allow professional investors to trade derivatives and staking, strengthen market monitoring and cross-border cooperation. The SFC stressed that the framework will promote Hong Kong to become a trusted virtual asset liquidity center while ensuring market stability and investor protection.