香港将向 11 家 VASP 发放牌照，韩国将收紧稳定币规则

几年前，香港被认为是对数字资产业务最友好的司法管辖区。然而，一场价值2亿美元的本地兑换骗局

Hong Kong is set to issue licenses for nearly a dozen virtual asset service providers (VASPs) by the end of the year, according to the city’s regulator.

据香港监管机构称，香港将于今年年底前为近十几家虚拟资产服务提供商（VASP）颁发许可证。

This comes as part of a broader effort to regulate the digital asset industry in Hong Kong, following a $200 million local exchange scam that prompted regulators to become more stringent.

这是香港数字资产行业监管更广泛努力的一部分，此前发生了价值 2 亿美元的本地交易所骗局，促使监管机构变得更加严格。

The Securities and Futures Commission (SFC) has been conducting on-site visits and reviews of 11 VASP license applicants, with the aim of issuing them licenses this year, SFC CEO Julia Leung told local media outlet HK01 in a recent interview.

证券及期货事务监察委员会（证监会）首席执行官梁凤仪最近在接受当地媒体 HK01 采访时表示，证监会已对 11 家 VASP 牌照申请人进行了现场访问和审查，目标是在今年向他们发放牌照。

Among the applicants are Hong Kong Digital Asset EX Limited, Whalefin Markets, Panthertrade Limited and DFX Labs Limited, according to the SFC website. Notably, none of the global exchanges are on the list, despite Hong Kong being one of their biggest target markets in Asia.

据证监会网站称，申请人包括 Hong Kong Digital Asset EX Limited、Whalefin Markets、Panthertrade Limited 和 DFX Labs Limited。值得注意的是，尽管香港是全球交易所在亚洲最大的目标市场之一，但没有一家全球交易所上榜。

Some exchanges, including Binance, OKX, Gate.io and HTX, withdrew their applications earlier this year. Local media outlets reported that the withdrawals were due to a stipulation by the SFC that they could not serve Chinese customers under the new licensing regime.

包括 Binance、OKX、Gate.io 和 HTX 在内的一些交易所已于今年早些时候撤回了申请。当地媒体报道称，撤资是由于证监会规定他们不能在新的发牌制度下为中国客户提供服务。

“Applicants who do not meet the requirements will lose their qualifications for licensing, while applicants who meet the requirements will be granted a license conditionally,” Leung said, without revealing the identities of the applicants.

梁说：“不符合要求的申请人将失去牌照资格，而符合要求的申请人将有条件地获得牌照。”但他没有透露申请人的身份。

The SFC began accepting applications for VASP licenses in August last year, following the enactment of the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill in June.

《反洗钱及恐怖分子资金筹集（修订）条例草案》于 6 月颁布后，证监会于去年 8 月开始接受 VASP 牌照的申请。

The new licensing regime is designed to bring digital asset exchanges and other service providers under the SFC’s regulatory ambit, following the collapse of several local exchanges in recent years.

在近年来数家本地交易所倒闭后，新的发牌制度旨在将数字资产交易所和其他服务提供商纳入证监会的监管范围。

Under the new regime, VASP license applicants are required to obtain a separate permit to service Hong Kong investors. Haskey and OSL became the first two exchanges under the new regime to acquire this license, and HKVAX joined them a week ago.

根据新制度，VASP牌照申请人必须获得单独的许可证才能为香港投资者提供服务。 Haskey 和 OSL 成为新制度下首批获得该牌照的两家交易所，HKVAX 一周前也加入了他们的行列。

Despite cultivating the image of a digital asset hub, Hong Kong is quite restrictive on retail traders. Before August, retailers valued at less than $1 million could only buy and sell BTC and ETH, but their options have broadened slightly to four tokens. Professional investors have a much bigger selection of tokens available to them.

尽管香港树立了数字资产中心的形象，但它对零售交易者的限制相当严格。 8 月之前，价值低于 100 万美元的零售商只能买卖 BTC 和 ETH，但他们的选择范围已略微扩大到四种代币。专业投资者有更多的代币可供选择。

Meanwhile, South Korea is tightening its laws on stablecoins to plug any crime loopholes in cross-border funds transfers, with proposals being reviewed to extend stringent foreign exchange regulations to transactions involving fiat-pegged stablecoins.

与此同时，韩国正在收紧稳定币法律，以堵住跨境资金转移中的任何犯罪漏洞，并正在审查将严格的外汇监管范围扩大到涉及与法币挂钩的稳定币交易的提案。

The country's Ministry of Economy and Finance (MoEF) revealed the proposals on Friday, with the aim of bolstering oversight over crypto funds flowing in and out of the country.

该国经济和财政部（MoEF）于周五公布了这些提议，旨在加强对流入和流出该国的加密货币资金的监管。

The proposals are being reviewed by the Financial Services Commission (FSS), which will prioritize stablecoins in the next phase of the country’s Virtual Asset User Protection Act.

金融服务委员会（FSS）正在审查这些提案，该委员会将在该国虚拟资产用户保护法的下一阶段优先考虑稳定币。

The FSS will initially focus on stablecoins pegged to the country’s won before extending to those pegged to the U.S. dollar and other foreign currencies.

FSS 最初将重点关注与韩元挂钩的稳定币，然后再扩展到与美元和其他外币挂钩的稳定币。

In South Korea, most local exchanges offer their own stablecoins that are pegged to the won, but these are limited to the exchange ecosystem. Some companies have also attempted to launch broader won-pegged stablecoins with limited success.

在韩国，大多数当地交易所都提供自己的与韩元挂钩的稳定币，但这些仅限于交易所生态系统。一些公司还尝试推出更广泛的与韩元挂钩的稳定币，但成效有限。

However, like in most other countries, stablecoins are gaining traction for cross-border fund transfers, which poses a challenge for the government as they are harder to track than traditional methods.

然而，与大多数其他国家一样，稳定币在跨境资金转移方面越来越受欢迎，这给政府带来了挑战，因为它们比传统方法更难追踪。

“International trades in stablecoins are not reflected in official statistics, which could create a loophole in the government’s policies,” said Hwang Suk Jin, a professor at Dongguk University in Seoul.

首尔东国大学教授 Hwang Suk Jin 表示：“稳定币的国际贸易没有反映在官方统计数据中，这可能会给政府的政策造成漏洞。”

Jin joins many other Korean economic experts, including Bank of Korea Governor Rhee Chang-yong, who fear that in times of economic crises, capital could flee the country as investors convert their won-based assets to foreign currency-pegged stablecoins.

金与包括韩国央行行长李昌镛在内的许多其他韩国经济专家一样，担心在经济危机时期，随着投资者将韩元资产转换为与外币挂钩的稳定币，资本可能会逃离该国。

The FSS intends to consult other jurisdictions before settling its stablecoin rules, including the European Union and neighboring Japan.

FSS 打算在制定稳定币规则之前咨询其他司法管辖区，包括欧盟和邻国日本。

The latter is strict with stablecoins and only allows banks, trust companies and fund transfer services to issue these tokens.

后者对稳定币的要求严格，只允许银行、信托公司和资金转账服务机构发行这些代币。