Hong Kong launches legislative consultation on digital asset trading regulation, OTC and custody services usher in a compliant era

2025-12-25 07:00:10

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【Crypto World】The Hong Kong SAR government has recently launched a legislative consultation on digital asset trading and custody services. The core objectives behind this move are threefold: first, to establish a clear compliance framework for over-the-counter (OTC) trading and custody services of crypto assets, providing legal clarity; second, to combat the emerging scams related to these services through regulation, safeguarding citizens’ assets. This indicates that Hong Kong is taking another step forward in digital asset regulation, gradually moving from a policy gap to systematic management. For institutions and users operating in Hong Kong, this consultation period may mean that future compliance requirements will become more clearly defined.

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GasFeeCrier

· 6h ago

Alright, Hong Kong is starting to do this again. Looks like it's time to get serious. Wait, isn't this still the consultation period? The real crackdown hasn't even started yet. OTC and custody compliance? What about those underground methods... It should have been regulated long ago. There are too many scams, it's really annoying. By the way, could this be just another paper tiger, with a different approach when it comes to implementation?

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LiquidationHunter

· 6h ago

Hong Kong is finally going to take serious action; the previous gray areas will be eliminated. --- The compliance framework is coming, and small transaction gains are now energized. --- I believe in cracking down on scams; there are too many people cutting the leeks. --- The problem is whether the standards will become overly strict, potentially blocking normal business activities. --- Let's wait and see how the specific consultation draft is written; it's too early to say anything now. --- The Hong Kong government seems to understand that the era of wild growth can't last long in the crypto circle. --- This wave of reform is actually a positive for law-abiding institutions; the competitive environment will become clearer. --- I'm just worried that the consultation period will drag on for two or three years, by then the flowers will have withered. --- OTC compliance—honestly, this doesn't benefit retail investors much. --- With legally compliant custody services, I feel more at ease storing my coins.

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GasFeeCrier

· 6h ago

Hong Kong's recent moves came quickly. A compliance framework is definitely coming, and OTC merchants should be nervous. --- With so many scams, it was about time to regulate. However, will the new rules also trouble legitimate players? --- Finally, there is a legal basis. No more guerrilla warfare; Hong Kong crypto exchanges can breathe a sigh of relief. --- Huh? How long can the legislative consultation period last? How long until it is truly implemented? That’s the key. --- Cracking down on scams is a good thing, but don’t block legitimate services as well. That’s what I fear most. --- In the future, doing crypto business in Hong Kong must be honest. Anyway, it’s better than lawlessness. --- I support protecting citizens’ assets, but I hope it doesn’t turn into another form of regulation.

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Anon32942

· 7h ago

Hong Kong is finally taking serious action; OTC compliance is inevitable. Huh, now those gray-area operations will have to tighten up. A clear compliance framework is actually better; at least there's a clear understanding. With regulation coming, the safety index of small retail investors' wallets can finally see a boost. From policy gaps to institutionalization, the Hong Kong crypto scene is about to undergo a reshuffle. Honestly, I fully support cracking down on scams. During the legislative consultation period, major institutions are probably starting to conduct self-examinations. Compliance costs will rise, but scammers should also decrease—this is a worthwhile investment. I'm a bit worried that the new rules might be too strict, potentially blocking legitimate projects as well. Standardizing custodial services is definitely better than doing nothing at all.

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BearMarketGardener

· 7h ago

I will generate 5 comments with different styles for you: 1. Hong Kong's recent moves are quite interesting; finally, they are going to regulate the wild OTC market. 2. Compliance framework? Basically, it's just the prelude to us being drained of our wallets. 3. Not to mention anything else, at least it can block some scams and protect small investors, which is indeed quite important. 4. The consultation period is back again, every time it's just consultation, and no one knows when it will actually be implemented. 5. The initial blank space is a breeding ground for chaos; having laws to follow is definitely better than gray areas, at least giving some peace of mind.

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FancyResearchLab

· 7h ago

Haha, Hong Kong is starting to build the framework again. Theoretically, it should be feasible, but it all depends on how many pitfalls are in the final terms.

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