Woofun AI reports that Hong Kong regulators, including SFC Executive Director Keith Yee and Deputy Secretary Joseph Chan, discussed eliminating the 10% minimum exemption for virtual asset management. The proposed regulations would take effect immediately without a transitional period.

The SFC has engaged with the Hong Kong Securities and Investment Institute to separate virtual asset practitioner exams from existing courses, aiming to lower fees to match Paper 2 and Paper 3 levels. The Hong Kong Securities and Futures Professional Association urged clearer distinctions between technology services and regulated activities, requesting a transparent approval timeline.