Otoritas Sekuritas dan Futures Hong Kong menggambar batas baru Web3: memulai dari Kepatuhan, menuju inovasi.

OSL Group Chief Business Officer Zhang Yinghua wrote an article exploring the latest statement from the Hong Kong Securities and Futures Commission regarding digital assets and the future development direction of the industry (Background: OSL Group and the Solana Foundation announced a partnership to accelerate the tokenization process of compliant real-world assets). (Background supplement: OSL Global Exchange now supports USDT and USDC on the Solana network.) *This article is a promotional piece provided by OSL and does not represent the position of BlockTempo, nor is it investment advice or a suggestion to buy or sell. See the end of the article for a responsibility disclaimer. Recently, the Hong Kong Securities and Futures Commission released two regulatory updates regarding digital assets, garnering significant attention from the Web3 industry and traditional financial institutions. First, on September 30, the “Supplementary Joint Circular on the Virtual Asset-Related Activities of Intermediaries” was issued, further clarifying that the market must engage in digital asset-related businesses through licensed intermediaries recognized by the Commission. On October 17, Dr. Ye Zhiheng, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, also addressed the investment fund concerning digital and investor associations. This series of statements outlines a regulatory path for Hong Kong's digital asset industry characterized by “clear rules” and “encouraging innovation,” responding to the core concerns of the market: what path should be taken to build a digital asset ecosystem that allows institutional investors to participate widely and safely? The answer lies in constructing a robust innovative ecosystem under a clear compliance framework. Clear licensing path: Market fluctuations highlight the importance of compliance. The entry of institutional funds has always been predicated on regulatory compliance. The supplementary circular issued on September 30 clarified the compliance requirements for specific business activities such as OTC trading and staking of digital assets based on the existing regulatory framework. The significance of this move is to provide a clear compliance path for certain business activities that were previously outside the regulatory system, bringing them into a transparent and supervised licensed framework. On October 11, the global cryptocurrency market experienced violent fluctuations once again, highlighting the value of the regulatory framework: in a highly volatile market, the safety of investors' assets and counterparty risks become primary concerns. The clarity of regulation also places higher demands on market service providers, such as OSL Group's “institutional-grade one-stop trading and custody solutions” dedicated to helping institutions participate in the digital asset market more safely and efficiently while meeting regulatory requirements, demonstrating stability during this market turbulence. The supervisory requirements of the Hong Kong Securities and Futures Commission provide clear guidance and safety guarantees necessary for financial institutions that prioritize risk control to participate in the digital asset market. Supporting compliant innovation: Exploring the path for asset tokenization. While clarifying existing rules, Hong Kong is also providing development space for innovative areas, including the tokenization of real-world assets (RWA). The signals conveyed by the Hong Kong Securities and Futures Commission at the October seminar closely echo the “ASPIRe” strategic roadmap previously released by the Commission, particularly emphasizing the establishment of partnerships through communication with the industry, reflecting the regulatory body's open approach to guiding compliant innovation. RWA is widely regarded as one of the important bridges linking digital assets with the real economy. Among them, fund tokenization, due to its high standardization and clear application scenarios, has become one of the earliest viable application areas. The proactive attitude of the Hong Kong Securities and Futures Commission not only provides valuable policy guidance for practitioners but also reflects Hong Kong's support for compliant innovation. As one of the earliest participants in building a compliant digital asset ecosystem in Hong Kong, OSL Group and other licensed institutions are actively leveraging their experience in compliance operations and technical security to provide professional solutions for RWA innovation in the market, striving to help relevant projects robustly land within the compliance framework in aspects such as asset assessment, technical realization, and custody services. From concept to practice: The industry urgently needs in-depth dialogue. The Hong Kong Securities and Futures Commission's steady promotion of a regulatory path that balances innovative exploration sketches out the future landscape of the Hong Kong digital asset market: compliance is destined to become the cornerstone of all businesses, while compliant innovations, including tokenization, are among the most promising growth engines. However, clarifying the regulatory framework is only the first step. For market participants, the real challenge lies in how to establish mutual trust with regulatory authorities and transform promising businesses into actual commercial growth in accordance with the regulatory framework. In a volatile market environment, institutions need to build clear compliance strategies and directions, which is one of the core issues that the industry urgently needs to discuss together. At the Finternet 2025 Asia Digital Finance Summit, supported by OSL Group and held in November, top industry leaders and policy experts from around the world will discuss key challenges in the development of the digital asset industry and seek feasible solutions to promote the industry's transition from concept construction to market practice. Future success will belong to those who can deeply understand compliance requirements while boldly embracing technological innovation. To achieve this goal, the entire ecosystem needs to collaborate, exploring new growth opportunities in the market within the certainty of regulation, and searching for feasible development paths for Hong Kong and even global digital finance. Related reports OSL Group officially completes the acquisition of the licensed exchange Koinsayang in Indonesia. OSL Group announces “full support” for the Hong Kong SAR government! Steadily promoting the development of financial technology. “The Hong Kong Securities and Futures Commission draws the new boundary of Web3: Starting from compliance, advancing towards innovation.” This article was first published in BlockTempo, the most influential blockchain news media.