Hong Kong is set to enhance its cryptocurrency regulatory framework by introducing two new virtual asset licensing categories. The Financial Services and Treasury Bureau, along with the Securities and Futures Commission (SFC), will separately regulate 'providing advice on virtual assets' and 'virtual asset management', distinct from trading activities. This initiative is part of a broader strategy to refine oversight of risk-on assets under the Anti-Money Laundering Ordinance (AMLO). A public consultation on these changes will be conducted over the next month.