On 3 November 2025, Hong Kong’s Securities and Futures Commission (SFC) issued the Circular on Expansion of Products and Services of Virtual Asset Trading Platforms to allow SFC-licensed virtual asset trading platforms (VATPs) to diversify the range of products and services they offer. The SFC’s stated aim in implementing the initiative is to cater to the varying needs of different investor groups while maintaining a focus on market growth and the implementation of robust measures to protect retail investors, as outlined under Pillar P of the SFC’s ASPIRe Roadmap published in February 2025.