香港公开路线图，以扩展和发展其虚拟资产市场

该倡议是由Coindesk共识香港2025 Conference的证券和期货委员会首席执行官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.

香港周三推出了路线图，以扩大和发展其虚拟资产市场，该计划在该市举行的一场全球总理加密赛事活动的场景上宣布。

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.

该计划由Coindesk共识香港2025会议上的证券和期货委员会首席执行官Julia Leung Fung-Yee宣布，SFC随后分别揭示了路线图。

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

成千上万的首席执行官，行业专家等为期三天的旗舰加密货币和Web3活动。

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.

梁在会议上告诉代表，虚拟资产市场目前非常不平衡，有必要采取大胆但谨慎的方法来进一步发展该行业。

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

SFC的监管路线图被称为Aspire，并制定了12项计划，其中包括一些投资者的衍生产品和保证金贷款。

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

SFC表示，Aspire代表获得，保障措施，产品，基础设施以及投资者保护，可持续流动性和适应性监管的关系。

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

在这些支柱下，SFC将通过建立用于虚拟资产的非处方交易和监护权服务的许可制度，并吸引全球平台和其他利益相关者来简化对市场的访问

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

SFC还计划探索专业投资者的新令牌上市和虚拟资产衍生品交易的框架。

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.

它将探索与证券市场保障措施保持一致的保证金融资要求，并考虑允许Sticking（一种获得从某些平台中持有某些加密货币的奖励的方式），以及具有明确指导方针的借贷和借贷服务。

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，它将探讨与保存技术和存储比率相关的“动态方法”，与保持在线或离线的加密货币比例相关，以优先考虑安全性，而不会损害发行人的食欲。

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.

在其他举措中，SFC计划增强保险和薪酬框架，澄清投资者入职和产品分类，提高报告效率并加强与机构和海外市场的合作。

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

SFC中介机构执行董事埃里克·杨（Eric Yip Chee-hang）表示，监管机构没有为路线图设定时间表。

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

议员约翰尼·诺格（Johnny Ng Kit-chong）欢迎路线图，并表示已解决了市场的关注。

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，尽管香港拥有10个许可的虚拟资产交易平台，即使是最活跃的每日交易量低于1亿美元（7.8亿港元），而在美国类似交易所进行的59亿美元。

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.

他将其归因于香港更严格的法规，但指出路线图建议允许有执照的平台为专业投资者提供更多投资选择并列出更多产品。