On February 14, the Hong Kong Securities and Futures Commission (SFC) held the inaugural meeting of its Virtual Asset Advisory Panel (VACP), marking a crucial milestone in shaping the city’s cryptocurrency regulations. This move aims to create a stable and innovative environment for digital assets.

🔍 First Meeting with a Clear Vision

The session was led by SFC Executive Director Dr. Eric Yip, who emphasized the importance of balancing strict regulation with fostering innovation. The advisory panel includes top executives from all licensed crypto trading platforms in Hong Kong, with a primary mission of ensuring investor protection while supporting sustainable industry growth.

"VACP is part of SFC’s proactive engagement with licensed virtual asset platforms. We aim to support the long-term growth of the crypto industry while setting clear regulatory priorities," Yip stated.

📊 Key Topics Discussed

Some of the key focus areas of the meeting included:

✔ Clear regulatory guidelines – Establishing transparent and effective rules.
✔ Market growth support – Creating an attractive environment for investors and technological innovation.
✔ Balancing regulation and innovation – Ensuring a safe yet flexible framework for crypto businesses.

Hong Kong is positioning itself as a global hub for cryptocurrency, taking proactive steps to foster industry growth while maintaining regulatory oversight.

💰 Hong Kong’s Investment in Crypto’s Future

The SFC is expanding its regulatory team, recently announcing plans to hire 15 new employees, with eight dedicated solely to overseeing virtual assets.
For the 2025–2026 budget, the regulator plans to increase spending by 7.2%, bringing the total budget to HK$2.59 billion (US$332.4 million). This financial commitment demonstrates Hong Kong’s ambition to solidify its position as a leader in the digital asset sector.

✅ Next Step: Institutional Adoption Gains Momentum

In another key development, the SFC granted a Type 9 license to HashKey Capital, allowing the exchange to manage over-the-counter trading, derivatives, and spot cryptocurrencies for institutional investors.
This decision reinforces Hong Kong’s status as a regulated and secure hub for large-scale crypto investments, potentially attracting further institutional capital.

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