The Securities and Futures Commission (SFC) in Hong Kong has held the first meeting of its Virtual Asset Consultative Panel (VACP), signifying progress in shaping the city's crypto regulations. The panel, led by SFC Executive Director Dr. Eric Yip, includes top executives from licensed cryptocurrency trading platforms in Hong Kong and aims to protect investors while fostering the development of a strong crypto industry. The VACP will establish regulatory priorities and encourage innovation in the market. During the meeting, members discussed key priorities such as clear policies, market growth, and balancing regulations with innovation. Hong Kong is working towards becoming a global crypto hub and is attempting to establish a thriving but tightly controlled digital assets economy. The SFC has recently approved leading cryptocurrency exchange HashKey Capital to manage digital assets under its Type 9 license, further demonstrating the acceptance of institutional use of cryptocurrencies in Hong Kong.



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