Hong Kong SFC Discusses New Guardrails for Virtual Asset KOLs as Mainstream Business Norm

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A Hong Kong Securities and Futures Commission (SFC) official recently stated that financial influencers (KOLs) promoting virtual assets represent a new business norm. Ye Zhiheng, executive director of the SFC's intermediaries division, noted that the relationship model has shifted from individuals working with traditional brokers to individuals partnering with platforms, many of which operate outside Hong Kong with no geographic boundaries, creating challenges for global regulators. The SFC is now in discussions with industry stakeholders on potential regulatory measures, including license optimization and conduct guideline updates.
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