Hong Kong Financial Services and Treasury Bureau and Securities and Futures Commission Release Consultation Conclusion on Licensing System for Virtual Asset Trading and Custody

2025-12-262025-12-24 by admin

BlockBeats News, December 24th: According to a joint consultation conclusion released by the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC), Hong Kong will further advance the licensing system for virtual asset trading and custody service providers. This move aims to strengthen the regulation of virtual asset trading and custody services, ensuring the stability and sustainable development of the market.

The consultation also mentioned that for virtual asset management services and advisory service providers, Hong Kong will conduct a further one-month public consultation. It is expected that the system will be similar to the regulatory framework of the traditional securities market and will clearly define the regulated activities under different virtual asset licensing regimes.

PANews reported on December 31 that Tom Lee, co-founder of Fundstrat and chairman of BitMine, wrote on the X platform: "Typically, during these last holiday trading sessions, many institutional investors exit the market, and algorithmic trading programs and bot trading programs begin to dominate the market, along with sell-offs for tax avoidance. These constitute the market dynamics in the last few days of December." Previously, in BitMine's announcement of acquiring 44,463 ETH last week, Tom Lee mentioned that market activity tends to slow down as the year enters its final weeks of holiday season. Year-end tax-avoidance selling depresses cryptocurrency and cryptocurrency-related stock prices, with this effect typically most pronounced between December 26th and December 30th; therefore, they are adjusting their market strategy accordingly. Earlier today, it was reported that Bitmine pledged another 118,944 ETH and increased its holdings by 32,938 ETH .