Hong Kong's Securities and Futures Commission (SFC) is planning to increase its workforce, adding eight new roles specifically for regulating cryptocurrencies as part of a wider budget proposal aimed at enhancing market surveillance and enforcement investigations. The regulator has previously frozen hiring in three of the last five financial years, but it is now looking to add 15 staff members overall, with more than half dedicated to crypto activities. This move supports Hong Kong's initiative to license crypto firms, which began in 2023, as well as establishes a framework for stablecoin regulation. The push for regulatory improvements comes amidst a forecasted budget deficit of HKD 100 million ($13 million) this year. The SFC's planned regulatory framework aims to bolster the jurisdiction's position in the evolving digital asset landscape.

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