According to sources, the Hong Kong Securities and Futures Commission (SFC) has been seeking input from industry players in recent months regarding a new licensing regime for introducing cryptocurrency custody services. The SFC stated that in order to promote the sustainable and responsible development of the virtual asset industry in Hong Kong, the SFC will work closely with other regulators to establish a strong, clear, and consistent regulatory environment in Hong Kong. Previously, there were reports suggesting that Hong Kong was exploring the possibility of having the SFC work with customs and consumer tax departments to regulate virtual asset OTC trading services, but these discussions are still in the early stages and could change. (South China Morning Post)