SFC sets out vision to foster a vibrant fintech ecosystem in Hong Kong

The Securities and Futures Commission (SFC) of Hong Kong is promoting a healthy fintech ecosystem, particularly in the virtual asset market, through various initiatives. At Fintech Week 2024, Dr. Eric Yip outlined plans for a swift licensing process for virtual asset trading platforms (VATPs), expecting the first licenses to be granted by year-end. The SFC will also establish a consultative panel for VATPs to ensure industry perspectives inform policy decisions, set to launch in early 2025. Additional regulatory measures are being developed for virtual asset trading and custody services. The SFC is actively involved in Project Ensemble, which supports tokenisation in asset management. Dr. Yip emphasized the SFC’s commitment to balancing market development with investor protection through proactive regulation and collaboration.

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