Hong Kong’s Securities and Futures Commission has outlined a new ASPIRe roadmap for asset regulation. The agency’s statement details a framework that sets parameters for market entry, investor protection, and operational transparency in the digital asset space.
According to a document from the SFC, this plan is based on a five-pillar structure. “ASPIRe” approach—access, Safeguards, Products, Infrastructure, and Relationships—to address the challenges posed by a global market valued at over $3 trillion in 2024.
The roadmap outlines 12 initiatives designed to streamline licensing for over‐the‐counter trading and custody services, adjust requirements for storage and technology, and clarify product categorization for institutional and retail participants.
This document states that the regulatory transparency will be enhanced through licensing regimes which invite global trading platforms to work under standard rules. The approach is to apply the “same business, same risks, same rules” principle already used in Hong Kong’s virtual asset trading center, which has issued licenses to nine platforms and has additional applications pending review.
Measures under the plan include transitioning to technology‐neutral, outcome-based standards for asset custody while refining insurance and compensation frameworks to address operational risks and reduce barriers for liquidity providers.
Hong Kong is still striving to be a leader in cryptography
At the ongoing Consensus Hong Kong 2025 conference, SFC CEO Julia Leung outlined how these initiatives will support the city’s strategy to establish itself as a hub for digital assets.
In related developments, Standard Chartered’s Hong Kong division, Animoca Brands, and HKT have partnered to apply for a license to issue a Hong Kong dollar-backed stablecoin. New Capital Investment Entrant Scheme seems to be open-minded about accepting cases when cryptocurrencies can serve as proof of assets.
The SFC’s strategy aligns with international efforts to unify regulatory standards, drawing on guidance from bodies such as the Financial Action Task Force and IOSCO.
A transparent and educational approach to investor engagement is also part of the roadmap. The SFC wants to foster a more confident market for retail and institutional investors by clarifying the onboarding process and categorization of products. SFC is implementing a plan that includes increased surveillance, cross-agency coordination, and reporting mechanisms. This will help detect and manage risk in a market with fragmented liquidity.
The roadmap sets a defined course for expanding Hong Kong’s role in digital asset regulation by integrating regulatory measures that address compliance and market forces. SFC said that the initiatives outlined will be implemented under their regulatory principles.
Postings in: Hong Kong Adoption, Features, Regulation The Author 
Liam ‘Akiba’ Wright
Also referred to as “Akiba,” Liam Wright works as a reporter at CryptoSlate, produces podcasts, and is the editor-in-chief. He is a firm believer that the decentralized technologies have the power to bring about positive changes.
Liam E. @akibablade, LinkedIn email Editor
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