Liang Fengyi announced three new measures: Hong Kong plans to allow licensed platforms to provide perpetual contract products and virtual asset margin financing services, and relax regulations on related market makers

Foresight News reports live from the Consensus 2026 conference that Julia Leung, Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong, stated that the SFC is committed to building a complete regulatory ecosystem for virtual assets and announced three new initiatives:

1. **Margin Financing**: Licensed brokers will be allowed to provide margin financing to clients with strong credit standing. Collateral may include securities and virtual assets. Initially, the service will be open only to Bitcoin and Ethereum, with prudent haircuts applied in line with traditional financial standards.

2. **Perpetual Contracts**: A high-level regulatory framework will be issued to allow licensed platforms to offer perpetual contract products. The service will initially be restricted to **professional investors** only, requiring platforms to maintain a high level of transparency and robust management of variable funding rates and liquidation risks.

3. **Affiliated Market Makers**: Rules will be relaxed to allow licensed platforms to provide liquidity through affiliated market-making units, provided they can demonstrate functional independence and strict management of conflicts of interest.

Leung noted that tokenized assets have grown rapidly over the past year. Assets under management in tokenized gold have reached **US$400 million**, doubling in the past six months. The SFC has so far authorized **11 tokenized money market funds**. In addition, Project Ensemble is piloting the settlement of money market funds using tokenized deposits.

On the regulatory roadmap, the SFC has issued a consultation conclusion on virtual asset trading and custody, and plans to work with the HKSAR Government to table relevant legislative proposals within this year.

---

**Disclaimer**:

The views expressed in this article are solely those of the author and do not constitute investment advice from this platform. This platform makes no warranties regarding the accuracy, completeness, originality, or timeliness of the information in the article, and shall not be liable for any losses arising from the use or reliance on such information.