The Securities and Futures Commission of Hong Kong lifts the ban on virtual asset margin lending, first establishes a high-level framework for perpetual contract issuance, and limits qualified virtual asset collateral to only Bitcoin and Ethereum.

On February 11, the Securities and Futures Commission of Hong Kong issued a package of new regulations, allowing licensed virtual asset brokers to provide virtual asset financing services to securities margin clients, provided that they have sufficient collateral and robust investor protection measures. At the same time, the Securities and Futures Commission of Hong Kong for the first time established a high-level framework for licensed virtual asset trading platforms to develop perpetual contracts that are only available to professional investors and are leveraged products. This is another round of institutional supplementation implemented by the Securities and Futures Commission of Hong Kong in the field of digital assets following the release of the regulatory roadmap "ASPIRe" for the virtual asset market in February 2025.