Securities and Futures Commission eases virtual asset trading

Operators can now combine orders with overseas traders, amongst other measures.  

The Securities and Futures Commission (SFC) issued two new circulars for SFC-licensed virtual asset trading operators as it aims to grow Hong Kong’s digital asset ecosystem.

In the first circular, trading platform operators are allowed to combine their orders with overseas virtual asset traders in a shared order book under the ASPIRe roadmap, which aims to make cross-platform order matching seamless and safe.

In line with this, the SFC may allow licensed brokers to direct client orders to regulated overseas liquidity pools within the same group, the agency said.

In another circular, trading platform operators are allowed to offer virtual asset trading without a 12-month track record for professional investors and for Hong Kong Monetary Authority-licensed stablecoins.

It also allows the distribution of tokenised securities and digital asset-related investment products, the agency added.