What’s in the New Staking Rules?

Under the new circular, crypto exchanges must:

• Obtain written approval before offering staking services.
• Retain control over staked assets — no third-party custody allowed.
• Fully disclose all risks, fees, lock-up periods, and custodial details.
• Report staking activities to the SFC regularly.

These rules also apply to regulated funds with over 10% exposure to staked digital assets. Funds can only stake assets available to the public on SFC-approved platforms, and leveraged staking is strictly prohibited.

SFC Emphasizes Web3 Vision

At the Hong Kong Web3 Festival, SFC’s Christina Choi stated:

“The SFC is committed to supporting Hong Kong’s Web3 journey.”

Citing NFT market volatility, she emphasized a pragmatic approach to Web3 — focusing on strong fundamentals and sustainable ecosystem building rather than chasing hype.

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Hong Kong remains a top 3 financial hub globally, offering regulatory clarity and easy access to Asian markets — a major draw for Web3 firms.

ASPIRe Roadmap: Future-Proofing Crypto

The city’s ASPIRe strategy includes 12 initiatives across five pillars, such as market access, regulatory optimization, and blockchain efficiency — all aimed at cementing Hong Kong’s crypto leadership.

Choi emphasized the convergence of traditional finance and digital economies:

“The zero-to-one breakthrough has been made; now it’s about going from one to 100.”

NFT Market Weakens

SFC’s announcements come amid a 70% drop in NFT daily trading volume. Bybit shut down its NFT marketplace, following in the footsteps of X2Y2, as interest continues to wane.

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