Hong Kong’s Securities and Futures Commission (SFC) has launched new guidelines for crypto exchanges providing staking services. The guidelines were announced on April 7, following comments from executive director Christina Choi at the Hong Kong Web3 Festival, emphasizing the SFC's commitment to the Web3 sector. The new rules require exchanges to obtain written approval before offering staking services, ensure control over staked assets, and disclose all fees, risks, and operational details to customers. Importantly, crypto fund operators are also affected, needing to ensure compliance with SFC regulations if they invest significantly in digital assets. Choi highlighted the evolving nature of Web3, advocating for a pragmatic approach rather than chasing trends. She underscored Hong Kong's standing as a significant financial center, promoting clear guidelines and access to Asian markets for Web3 companies. The SFC released a roadmap, “ASPIRe,” aimed at bolstering Hong Kong as a global cryptocurrency hub with initiatives for enhancing market access, optimizing compliance, and improving blockchain efficiency.

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