Hong Kong’s SFC holds first-ever crypto advisory committee meeting

The Hong Kong Securities and Futures commission held the first meeting of its advisory panel on virtual assets on February 14, marking a key step to shape the city’s cryptographic regulations.

According to the official announcementThe panel was led by the executive director of SFC, Dr. Eric Yip. It brings together the senior executives of all the cryptocurrency trading platforms under license in Hong Kong. Its main objective is to protect investors while helping to develop a robust and resilient cryptocurrency industry.

Dr. Yip highlighted the function of the VACP in the establishment of regulatory priorities and the encouragement of creativity, by declaring:

“The Vacp is part of the SFC’s proactive commitment with SFC VATP. It improves the sustainable growth of virtual asset ecosystem and helps establish priorities for market development ”

During the meeting, the members discussed key priorities such as the definition of clear policies, market growth and balancing regulations with innovation. As the cryptographic space is evolving, the SFC wants to create rules that support industry growth while guaranteeing companies to compliance.

Hong Kong made important efforts Associate yourself as a world cryptocurial center. The SFC has worked hard to find regulations that promote the expansion of industry while getting out of compliance requirements. As before reported By crypto.News, the SFC recently made a proposal to raise its staff with 15 new members, 8 of which will focus on the rules of virtual assets.

In its budget of 2025-2026, the regulator plans to increase spending by 7.2%, which brings its overall budget to $ 2.59 billion HK ($ 332.4 million). Unlike other jurisdictions, Hong Kong is trying to establish a flourishing but closely controlled digital asset economy.

In related news, the SFC recently approved Hashkey Capital, a main exchange of cryptocurrency, to manage digital assets under its type 9 license. This means that the company can now manage over-the-counter trading, derivatives and punctual cryptocurrencies for rich customers . These developments show that the institutional use of cryptocurrency is aggressively welcomed in Hong Kong.