Yigit Taha OZTURK 
Hong Kong has once again made headlines by reinforcing its role as a crypto hub. On April 7, the Securities and Futures Commission (SFC) issued new rules for crypto staking, targeting exchanges and authorized funds with digital asset exposure.
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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