Hong Kong to launch virtual asset derivatives trading services

the Securities and Futures Commission of Hong Kong plans to launch virtual asset derivative trading for professional investors, aiming to expand the selection of cryptocurrency products while ensuring risk control. Christopher Hui, Secretary for Financial Services and the Treasury, said on Wednesday that this move will enhance Hong Kong's competitiveness in the global digital asset market. The Securities and Futures Commission emphasized that it will prioritize sound risk management measures to ensure that transactions are conducted in an "orderly, transparent, and secure manner." In addition, Hong Kong is preparing to issue its second virtual asset policy statement and has implemented tax incentives to attract international financial technology companies. Currently, Hong Kong has more than 1,100 financial technology companies, including 8 licensed digital banks, 4 virtual insurance companies, and 10 virtual asset trading platforms.