香港证监会考虑引入虚拟资产衍生品交易 专业投资者门槛800万港元

Core Viewpoint - The Hong Kong government is considering introducing virtual asset derivatives trading for professional investors, aiming to enhance product offerings in the market while ensuring robust risk management measures [1] Group 1: Regulatory Framework - The Hong Kong Securities and Futures Commission (SFC) has set clear standards for professional investor qualifications, requiring individual investors to have an investment portfolio of at least HKD 8 million or equivalent foreign currency, and institutional investors to possess total assets of at least HKD 40 million or equivalent foreign currency [3] - The regulatory framework for virtual assets has been progressively improved since the introduction of the regulatory framework in 2018, with a new virtual asset regulatory framework launched in 2023 and the VASP licensing system set to officially start on June 1, 2024 [3] - As of February 2025, 10 virtual asset trading platforms, including OSL, HashKey, HKVAX, and HKbitEX, have obtained licenses, ensuring that operators conduct due diligence on virtual assets before offering them for trading [3] Group 2: Market Development and Impact - The introduction of virtual asset derivatives will fill a product gap in the Hong Kong market, aligning it with international mature markets and attracting global professional investors and financial institutions [4] - Virtual asset derivatives will provide professional investors with risk management tools such as hedging and arbitrage, catering to the allocation needs of institutional investors [4] - The government plans to optimize tax incentives for funds, single-family offices, and associated rights, allowing virtual assets to be included in qualified transactions eligible for tax relief, thereby reducing investor costs and attracting long-term capital to Hong Kong [4] - The policy encourages local and international enterprises to explore innovations and applications of virtual asset technology, enhancing efficiency and security in areas like supply chain finance and green bonds, thus promoting the digital transformation of the real economy [4]