The Hong Kong Treasury Bureau and the Securities and Futures Commission are consulting on the proposed system for regulating virtual asset trading and accomplice service providers.

According to Gate News bot, as reported by Jin10, the Hong Kong Financial Secretary's Office and the Hong Kong Securities and Futures Commission have launched a joint consultation today to introduce a regulatory framework for virtual asset trading service providers and custodians. The proposed framework will empower the Securities and Futures Commission to issue licenses and supervise virtual asset trading service providers and custodians, as well as enforce relevant regulations.

The China Securities Regulatory Commission (CSRC) will also be responsible for formulating compliance standards for these two important service providers, ensuring robust investor protection measures and maintaining market integrity based on the principle of "same business, same risks, same rules." This also reflects the CSRC's active implementation of various plans under the "ASPIRe" roadmap, continuing to build a vibrant yet safe and robust digital asset market with sustainable development as a prerequisite.