HK-licensed crypto platforms see Q1 trading volume surge 3x year-over-year, broker commissions up 80%

According to ME News, on May 31 (UTC+8), Hong Kong SFC Chairman Wong Tin-yu disclosed in his latest speech that Hong Kong has systematically expanded the range of products and services licensed entities may offer, including providing professional investors with a broader selection of products, piloting secondary market trading of tokenized assets, launching virtual asset-related financing services, and establishing a regulatory framework for leveraged virtual asset products. The 2025 trading volume of Hong Kong’s 12 licensed virtual asset exchanges has exceeded HK$640 billion, with first-quarter trading volume this year surging nearly threefold year-over-year. Additionally, brokers engaged in virtual asset-related businesses saw their commission income from such activities grow by over 80% year-over-year last year. On the regulatory front, Hong Kong will refine its comprehensive regulatory framework for virtual assets, covering key areas such as custody, trading, asset management, and investment advisory. The public consultation on the related licensing regime has been completed, and authorities are now finalizing legislative proposals with the Financial Services and the Treasury Bureau. The goal is to submit a bill to the Legislative Council by 2026 to establish a regulatory system fully aligned with international standards and strictly adhering to the principle of “same business, same risk, same rules.” (Source: ODAILY)