On 14 February 2025, Hong Kong Securities and Futures Commission (HK SFC) convened the inaugural meeting of the Hong Kong Virtual Asset Consultative Panel (VACP), a dedicated advisory body for licensed virtual asset trading platforms (VATPs) in Hong Kong. The HK VACP, chaired by Dr. Eric Yip, Executive Director of Intermediaries at the HK SFC, brings together senior management representatives from all HK SFC-licensed VATPs to help shape Hong Kong’s regulatory landscape for virtual assets.
The Hong Kong VACP’s primary aim is to contribute to the HK SFC’s regulatory policy development, through close collaboration with industry participants, the panel further aims to identify key policy priorities and guide both market and regulatory developments, while maintaining strong investor protections.
The formation of the Hong Kong VACP with a strategy to work closely with licensed platforms, the panel aims to establish clear regulatory policies, enabling secure and transparent market operations and ease of doing business. The panel discussions aims to shape the regulatory framework to support responsible growth, investor protection, and compliance with evolving global virtual asset regulations.
Dr. Eric Yip, Executive Director of Intermediaries at the HK SFC stated, “The VACP is part of the SFC’s proactive engagement with SFC-licensed VATPs. It enhances sustainable growth in the virtual asset ecosystem, and helps set priorities for market development. The SFC looks forward to close collaboration with the members to encourage and develop innovation while ensuring adherence to regulatory standards in this rapidly changing landscape.”
(Source: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=25PR17)
