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ARTICLE · 14 JULY 2025

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LEAP Forward: Hong Kong Consults On Regulatory Frameworks For Virtual Assets Dealing And Custodian Services

Howse Williams
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On 26 June 2025, the Hong Kong government unveiled its second policy statement on the development of virtual assets ("VA"), outlining its vision to position Hong Kong as a premier global hub for digital assets under a "LEAP" framework...

Hong KongTechnology
Howse Williams
Howse Williams

Introduction

On 26 June 2025, the Hong Kong government unveiled its second policy statement on the development of virtual assets ("VA"), outlining its vision to position Hong Kong as a premier global hub for digital assets under a "LEAP" framework, i.e. Legal and regulatory streaming, Expanding tokenised products, Advancing use cases and cross-sectoral collaboration and People and partnership development.

Hot on the heels of this second policy statement, the Financial Services and the Treasury Bureau ("FSTB") and the Securities and Futures Commission ("SFC") on 27 June 2025 jointly published two consultation papers aimed at introducing regulatory regimes for VA dealings ("2nd Consultation Paper on VA Dealing") and custodian services ("Consultation Paper on VA Custody").

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