PANews December 24 news, according to the Hong Kong government press release, the Financial Services and the Treasury Bureau and the Securities and Futures Commission jointly announced the consultation summary on the licensing system for virtual asset trading and custody services, which has received widespread support from the market to include such services in the regulatory framework. The new system will be modeled on the traditional securities regulatory framework, focusing on core risk controls such as the custody of private keys. The two agencies will also conduct a further public consultation for a month, proposing to establish an independent licensing system for institutions providing virtual asset opinions and management services, with legislation expected to be submitted to the Legislative Council for review in 2026.