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According to a report by Jin10 on June 27, the Hong Kong Treasury and the Hong Kong Securities and Futures Commission (SFC) have launched a joint consultation today to introduce a regulatory framework for virtual asset trading service providers and custodians. The proposed framework will empower the SFC to license and supervise virtual asset trading service providers and custodians, and enforce relevant regulations. The SFC will also be responsible for establishing compliance standards for these two important service providers, ensuring robust investor protection measures and maintaining market integrity based on the principle of "same business, same risk, same rules." This also reflects the SFC's active implementation of various plans under the "ASPIRe" roadmap, continuing to build a vibrant and secure digital asset market with sustainable development as a prerequisite.

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