PANews reported on May 26 that the Hong Kong Financial Services and the Treasury Bureau and the Securities and Futures Commission (SFC) released a consultation conclusion on the regulatory regime for virtual asset advice and management services, confirming the establishment of a licensing regime for virtual asset advisors and virtual asset management service providers. The new regime will be designed in accordance with the business scope of Type 4 (advising on securities) and Type 9 (asset management) of the Securities and Futures Ordinance and will be incorporated into the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. The goal is to submit an amendment bill to the Legislative Council in 2026. Together with the planned virtual asset trading and custody licensing arrangements, Hong Kong will initially form a regulatory framework covering the entire digital asset chain, including trading, custody, advice, and management. The regulatory authorities also encourage relevant service providers to communicate with the SFC regarding licensing matters as soon as possible.