SFC's ASPIRe: Hong Kong Doubles Down on Crypto with Fresh Regulations

The plan, called ASPIRe, focuses on five key areas: Access, Safeguards, Products, Infrastructure, and Relationships.

It includes 12 specific initiatives designed to make the market more accessible, enhance investor protection, introduce new crypto products, modernize regulation, and encourage collaboration with industry players.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Crypto Arbitrage? (Risks & Tips Explained With Animation)

SUBSCRIBE

ON YOUTUBE

Executive Director of Intermediaries at the SFC, Dr. Eric Yip, emphasized:

This roadmap is not a final destination but a living blueprint, one that invites collective efforts to advance Hong Kong’s vision as a global hub where innovation thrives within guardrails.

One major part of the plan is to simplify market entry by setting clear licensing rules for crypto custodians and over-the-counter (OTC) trading platforms, as described in the Access pillar. At the same time, the Safeguards pillar introduces stronger investor protections, including stricter compliance requirements for exchanges and service providers.

Under the Products section, the SFC wants to expand the range of virtual assets available, including the introduction of new tokens and crypto-related derivatives. Meanwhile, the Infrastructure pillar focuses on improving market oversight by using technology to monitor activity and maintain integrity.

Collaboration is also a key aspect of the plan. The Relationships pillar encourages ongoing discussions between regulators and industry players to ensure rules remain clear and practical.

Meanwhile, the Australian Transaction Reports and Analysis Center (AUSTRAC) recently took action against multiple money remittance services and crypto exchanges. How? Read the full story.