The SFC has sought industry input on the potential establishment of a new licensing regime for OTC cryptocurrency services, which will see the securities regulator work with the C&ED to oversee such companies, according to people familiar with the matter who declined to be named as the discussions were private.
The SFC has also been consulting with companies in recent months on introducing a new licensing regime for cryptocurrency custody services, the sources said. Discussions on both licenses are still in their early stages and are likely to evolve, they said.
“To promote the sustainable and responsible development of the virtual asset industry in Hong Kong, the SFC is working closely with the government and other regulators to develop a strong, clear and consistent regulatory environment in Hong Kong,” an SFC representative said in a statement on Wednesday.
