Hong Kong Securities Association Meets Regulators on Virtual Asset Platform Operating Costs, July 3

According to Foresight News, the Hong Kong Securities and Futures Professionals Association (HKSFPA) met with regulators on July 3 to discuss virtual asset platforms' operational challenges. Participants included the Securities and Futures Commission's intermediaries department, along with representatives from Hong Kong's Treasury Bureau.

The association highlighted rising compliance costs for virtual asset trading platforms, citing hardware security module supply monopolies, cold-hot wallet ratio restrictions, excessive insurance requirements, and on-chain transfer mining fees as key pressures. HKSFPA urged regulators to adjust requirements while maintaining risk controls.