香港公開路線圖，以擴展和發展其虛擬資產市場

該倡議是由Coindesk共識香港2025 Conference的證券和期貨委員會首席執行官Julia Leung Fung-Yee宣布的

Hong Kong unveiled a roadmap on Wednesday to expand and grow its virtual assets market, an initiative that was announced on the sidelines of a premier global crypto event underway in the city.

香港週三推出了路線圖，以擴大和發展其虛擬資產市場，該計劃在該市舉行的一場全球總理加密賽事活動的場景上宣布。

The initiative was announced by Securities and Futures Commission chief executive Julia Leung Fung-yee at CoinDesk's Consensus Hong Kong 2025 conference, with the SFC revealing the roadmap separately later.

該計劃由Coindesk共識香港2025會議上的證券和期貨委員會首席執行官Julia Leung Fung-Yee宣布，SFC隨後分別揭示了路線圖。

Several thousands of chief executives, industry experts and the like are at the three-day flagship cryptocurrency and Web3 event.

成千上萬的首席執行官，行業專家等為期三天的旗艦加密貨幣和Web3活動。

Leung told delegates at the conference that the virtual asset market is currently very imbalanced and it is necessary to take a bold but careful approach to further develop the industry.

梁在會議上告訴代表，虛擬資產市場目前非常不平衡，有必要採取大膽但謹慎的方法來進一步發展該行業。

The SFC's regulatory roadmap is called ASPIRe and has 12 initiatives that include derivatives and margin lending for some investors.

SFC的監管路線圖被稱為Aspire，並製定了12項計劃，其中包括一些投資者的衍生產品和保證金貸款。

ASPIRe stands for access, safeguards, products, infrastructure and relationships for investor protection, sustainable liquidity and adaptive regulation, the SFC said.

SFC表示，Aspire代表獲得，保障措施，產品，基礎設施以及投資者保護，可持續流動性和適應性監管的關係。

Under these pillars, the SFC will streamline access to the market by establishing licensing regimes for over-the-counter trading and custody services for virtual assets and attracting global platforms and other stakeholders

在這些支柱下，SFC將通過建立用於虛擬資產的非處方交易和監護權服務的許可製度，並吸引全球平台和其他利益相關者來簡化對市場的訪問

The SFC also plans to explore a framework for new token listing and virtual asset derivative trading exclusively for professional investors.

SFC還計劃探索專業投資者的新令牌上市和虛擬資產衍生品交易的框架。

It will explore margin financing requirements that align with securities market safeguards and consider allowing staking - a way of earning rewards for holding certain cryptocurrencies from some platforms - as well as borrowing and lending services with clear guidelines.

它將探索與證券市場保障措施保持一致的保證金融資要求，並考慮允許Sticking（一種獲得從某些平台中持有某些加密貨幣的獎勵的方式），以及具有明確指導方針的借貸和借貸服務。

Besides, it will explore a "dynamic approach" to custody technologies and storage ratios related to the proportion of cryptocurrencies kept online or offline to prioritize security without hurting issuers' appetite.

此外，它將探討與保存技術和存儲比率相關的“動態方法”，與保持在線或離線的加密貨幣比例相關，以優先考慮安全性，而不會損害發行人的食慾。

Among the other initiatives, the SFC plans to enhance insurance and compensation frameworks, clarify investors onboarding and product categorization, enhance reporting efficiency and strengthen collaboration with agencies and overseas markets.

在其他舉措中，SFC計劃增強保險和薪酬框架，澄清投資者入職和產品分類，提高報告效率並加強與機構和海外市場的合作。

SFC intermediaries division executive director Eric Yip Chee-hang said the regulator has set no timetable for the roadmap.

SFC中介機構執行董事埃里克·楊（Eric Yip Chee-hang）表示，監管機構沒有為路線圖設定時間表。

Lawmaker Johnny Ng Kit-chong welcomed the roadmap and said it has addressed market concerns.

議員約翰尼·諾格（Johnny Ng Kit-chong）歡迎路線圖，並表示已解決了市場的關注。

Ng noted that while Hong Kong has 10 licensed virtual asset trading platforms, even the most active ones see daily trading volumes below US$100 million (HK$780 million) compared to US$5.9 billion on similar exchanges in the United States.

NG指出，儘管香港擁有10個許可的虛擬資產交易平台，即使是最活躍的每日交易量低於1億美元（7.8億港元），而在美國類似交易所進行的59億美元。

He attributed this to Hong Kong's stricter regulations but pointed out that the roadmap proposes allowing licensed platforms to offer more investment options for professional investors and list more products.

他將其歸因於香港更嚴格的法規，但指出路線圖建議允許有執照的平台為專業投資者提供更多投資選擇並列出更多產品。