On October 28, 2025, the Securities and Futures Commission (SFC) of Hong Kong officially announced the initiation of a tender process for a virtual asset trading surveillance system. Interested bidders are required to submit their proposals by November 7 of the same year, with the SFC aiming to select the successful vendor in the first half of 2026.

Notably, the tender documentation lacks detailed specifications regarding system requirements or a phased implementation timeline. Instead, it simply indicates that prospective bidders are invited to participate in an informational briefing session. Industry analysts speculate that this omission is likely a precautionary measure to safeguard the confidentiality and security of the project.

In response to inquiries, the SFC confirmed that all relevant tender details have been published on its official website and stated that no additional information will be provided at this stage.