Hong Kong Securities and Futures Commission Unveils Vision for Fintech Ecosystem

According to Odaily, the Hong Kong Securities and Futures Commission (SFC) has outlined its vision to foster the growth of Hong Kong's fintech ecosystem. The SFC's current regulatory measures include risk-based on-site inspections and direct dialogues with senior management and controllers of applicants. Building on this foundation, the SFC is implementing a swift licensing approval process to handle applications from virtual asset trading platforms considered for licensing. To fulfill its commitment to promoting the sustainable and responsible development of the virtual asset industry, the SFC is collaborating with the Hong Kong Special Administrative Region Government and other regulatory bodies. This collaboration aims to formulate regulatory proposals for providing virtual asset trading services and virtual asset custody services. The SFC continues to enhance investor protection through proactive monitoring systems and public warnings, while also deepening cooperation with other institutions.