Hong Kong Moves Forward With SFC’s Roadmap For Virtual Asset Growth
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The Securities and Futures Commission (SFC) has shared a new plan to help Hong Kong become a top place for virtual assets.
It said the plan, called “ASPIRe,” has five sections: Access, Safeguards, Products, Infrastructure, and Relationships. Each sectiion focuses on different ways to support digital money. According to the regulator, this plan will help Hong Kong grow as a trusted place for investors.
According to the update, the “Access” category will allow more individuals and businesses to enter the market. The SFC said clearer rules will give investors confidence in using virtual assets.
It also noted that fair guidelines will help companies offer digital money services safely. This could bring more opportunities to the city.
The SFC Aims To Protect Investors By Unveiling Strict Rules For Businesses
The “Safeguards” section focuses on keeping investors safe. SFC said it will bring in strict rules for businesses that deal with virtual assets. These rules will help protect digital money from fraud and wrong use. SFC noted that strong security is important so people can trust the market.
In “Products,” SFC said it wants to give investors more choices. It noted that offering different digital money services could bring in all kinds of investors. This plan may help both new and experienced users. Having more options will let people pick what works best for them.
“Infrastructure” is about improving technology. SFC said it will work on stronger systems for handling digital money. Using tools like blockchain could help speed up transactions. SFC noted that good infrastructure is needed to keep virtual assets safe.
“Relationships” focuses on working with others. SFC said it will keep talking to investors, businesses, and regulators around the world. It noted that teamwork is important for solving problems in the market. The regulator believes that regular meetings will help improve virtual asset services.
Hong Kong Aims To Invite More Investors With The New Roadmap
Dr. Eric Yip, a leader at the Securities and Futures Commission, said the roadmap is a “living blueprint” that will adapt as needed. He noted that digital money is always changing, and the plan will grow with it. SFC revealed that Hong Kong wants to support new ideas while keeping investors safe. It added that this flexible approach can help the market stay strong.
According to the update, Hong Kong is adopting the new plan as virtual assets become more popular worldwide. The SFC said a clear and safe environment will bring more businesses and investors. It noted that this can create jobs and new financial opportunities. The SFC added that these efforts will help the city’s economy.
The SFC also plans to teach users more about virtual assets. It said educational programs will help investors understand risks and benefits. The regulator stated that knowledge is key to building confidence in digital money.
