Svmuu News: Futu Securities announced that it has received approval from the Hong Kong Securities and Futures Commission (SFC) for the upgrade of its Type 1 licensed securities trading service. It will launch a virtual asset trading financing service for eligible clients in Hong Kong. The collateral for this service must be traditional securities. Previously, credit lines obtained by clients through traditional securities financing could not be used for cryptocurrency trading, but this restriction has now been relaxed to allow such use. Regarding the direct use of virtual assets as collateral for financing, a circular published by the SFC in February has relaxed the rules on virtual assets as collateral. However, pending revisions to capital regulations, virtual asset collateral will be subject to a 100% deduction under the Securities and Futures (Financial Resources) Rules. It is expected that this will pose certain challenges to the efficiency of capital utilization in practice.