The Hong Kong Securities and Futures Professionals Association criticized proposed changes to virtual asset management rules, arguing they could deter traditional asset managers from investing in cryptocurrencies. The new regulations would remove a threshold allowing minor crypto allocations without a full license, increasing compliance costs for minimal exposure.

Hong Kong's Securities and Futures Commission will let local crypto exchanges connect to global liquidity pools through shared order books. This change aims to improve price discovery and competitiveness for local investors while relaxing some trading history requirements for tokens and stablecoins.