PANews reported on June 11 that Futu Securities has officially received approval from the Hong Kong Securities and Futures Commission (SFC) to upgrade its Type 1 (Securities Trading) service, launching virtual asset trading financing services to eligible clients in Hong Kong. It is understood that the collateral for this service must be traditional securities. Previously, credit lines obtained through traditional securities margin financing could not be used for cryptocurrency trading, but this has now been relaxed to allow their use for cryptocurrency trading.

Regarding the use of virtual assets as collateral for margin financing, although the Hong Kong Securities and Futures Commission (SFC) issued a circular in February relaxing the use of virtual assets as collateral, the circular also mentioned that before the revision of capital requirements, virtual asset collateral will be subject to a 100% deduction in accordance with the Securities and Futures (Financial Resources) Rules. It is expected that this will pose a certain challenge to the industry's capital utilization efficiency in actual operation.