{"id":31867,"date":"2026-01-22T08:34:17","date_gmt":"2026-01-22T08:34:17","guid":{"rendered":"https:\/\/prelive-tdw.visibleone.app\/?post_type=insight-and-news&#038;p=31867"},"modified":"2026-01-27T01:47:21","modified_gmt":"2026-01-27T01:47:21","slug":"aspire-looking-back-and-ahead-on-the-regulatory-roadmap-for-virtual-assets-in-hong-kong","status":"publish","type":"insight-and-news","link":"https:\/\/www.tannerdewitt.com\/zh-hant\/insight-and-news\/aspire-looking-back-and-ahead-on-the-regulatory-roadmap-for-virtual-assets-in-hong-kong\/","title":{"rendered":"ASPIRe: Looking back and ahead on the regulatory roadmap for virtual assets in Hong Kong"},"content":{"rendered":"\n    \n\n<div style=\"background-image:url('https:\/\/www.tannerdewitt.com\/wp-content\/themes\/tanner-de-witt\/images\/insightdetails.jpeg')\"\n    class=\"insight-news-detail-hero\" id=\"insight-news-detail-hero\">\n\n\t\t<div style=\"background-color:\" class=\"insight-news-detail-hero-overlay \"><\/div>\n            <div class=\"z-[0]\">\n                <div class=\"insight-news-breadcrumbs flex items-end practice-areas-featured-breadcrumbs \">\n                    <a class=\"page-link no-underline\" href=\"https:\/\/www.tannerdewitt.com\/zh-hant\/\">Home<\/a>                <\/div>\n\n\n                <div class=\"hero-title\">\n                    <h1>\n                        ASPIRe: Looking back and ahead on the regulatory roadmap for virtual assets in Hong Kong                    <\/h1>\n                <\/div>\n                \n                    <div style=\"\" class=\"hero-date \">\n\n                        <span class=\"month\">Jan<\/span>\n                        <span class=\"day\">22<\/span>\n                        <span class=\"year\">2026<\/span>\n                    <\/div>\n\n            <\/div>\n    \n\n    \n\n\n\n<\/div>\n\n\n\n<script >\n    (function () {\n        document.addEventListener(\"DOMContentLoaded\", () => {\n\n            const breadCrumbsContainer = Array.from(document.querySelectorAll(\".practice-areas-featured-breadcrumbs\"));\n\n            breadCrumbsContainer.forEach(container => {\n                const breadCrumbLinks = Array.from(container.querySelectorAll('.page-link'));\n                const breadCrumbSeperators = Array.from(container.querySelectorAll('.separator'));\n\n                if (Array.from(breadCrumbLinks).length === 1) {\n                    const homeNode = breadCrumbLinks[0];\n\n                    if (!homeNode) {\n                        return\n                    }\n\n                    const postTypeNode = homeNode.cloneNode(true);\n                    postTypeNode.textContent = \"Insights and News\";\n                    container.insertAdjacentHTML('beforeend', `<span class=\"separator practice-areas-featured-breadcrumb-item-slash\">\/<\/span>`)\n                    container.insertAdjacentElement('beforeend', postTypeNode)\n                    breadCrumbLinks.push(postTypeNode);\n\n                    if (\"Insights\") {\n                        const categoryNode = homeNode.cloneNode(true);\n\n                        categoryNode.textContent = \"Insights\";\n                        container.insertAdjacentHTML('beforeend', `<span class=\"separator practice-areas-featured-breadcrumb-item-slash\">\/<\/span>`)\n                        container.insertAdjacentElement('beforeend', categoryNode)\n                        breadCrumbLinks.push(categoryNode);\n                    }\n\n\n                    const titleNode = homeNode.cloneNode(true);\n\n                    titleNode.textContent = \"ASPIRe: Looking back and ahead on the regulatory roadmap for virtual assets in Hong Kong\";\n                    container.insertAdjacentHTML('beforeend', `<span class=\"separator practice-areas-featured-breadcrumb-item-slash\">\/<\/span>`)\n                    container.insertAdjacentElement('beforeend', titleNode)\n                    breadCrumbLinks.push(titleNode);\n\n\n\n\n                }\n\n                breadCrumbLinks.forEach((link, index) => {\n\n                    link.classList.add('practice-areas-featured-breadcrumb-item-name');\n                    const origin = window.location.origin;\n                    const href = window.location.href;\n\n                    const originSplitter = window.location.href.includes(\"insight-and-news\") ? \"insight-and-news\" : window.location.href.includes('insights-and-news') ? \"insights-and-news\" : \"\"\n\n                    const paths = href.split(originSplitter);\n                    const links = paths[1].split(\"\/\").filter(Boolean)\n\n\n                    const resolvedOrigin = originSplitter ? (href.split(originSplitter)[0] || \"\") : (origin + \"\/\")\n\n                    if (index === 0) {\n\n                        if (!originSplitter) {\n                            link.href = origin\n                        } else {\n                            link.href = resolvedOrigin;\n                        }\n\n\n                    } else if (index === 1) {\n                        link.href = resolvedOrigin + originSplitter\n\n                    }\n                    else if (index === 2) {\n                        console.log(links)\n                        link.href = resolvedOrigin + originSplitter + \"\/\" + (links[0] || \"\")\n                    }\n                    else if (index === 3) {\n\n                        link.href = resolvedOrigin + originSplitter + \"\/\" + (links[0] || \"\") + \"\/\" + (links[1] || \"\")\n\n                    }\n\n\n\n                    \/\/ const words = link.textContent.split(\" \")\n                    \/\/ if (words.length > 4) {\n                    \/\/     link.textContent = words.slice(0, 4).join(\" \") + \"...\"\n                    \/\/ }\n\n                })\n\n                breadCrumbSeperators.forEach(separator => {\n                    separator.textContent = \"\/\"\n                    separator.classList.add('practice-areas-featured-breadcrumb-item-slash')\n                });\n\n\n            })\n\n\n        })\n        removeDivTag()\n    })();\n\n    function removeDivTag() {\n        console.log(\"remasfljas\");\n        const editorContainer = document.querySelector(\".editor-wysiwyg\");\n        \/\/ editorContainer.innerText = editorContainer.innerText.replace(\"<\/div>\", \"\")\n        Array.from(editorContainer.childNodes).forEach(el => {\n            if (el.textContent.includes(\"<\/div>\")) {\n                el.textContent = \"\"\n            }\n        })\n    }\n<\/script>\n\n<div class=\"editor-wysiwyg my-[40px]\">\n<div class=\"single-section\">\n<p>On 19 February 2025, the Securities and Futures Commission (SFC) published ASPIRe, its regulatory roadmap for Hong Kong\u2019s virtual asset market. It\u2019s a fine document, and an inspired acronym. As we approach the first anniversary of its publication,\u00a0<a href=\"https:\/\/www.tannerdewitt.com\/our-people\/padraig-walsh\/\">P\u00e1draig Walsh<\/a>, who leads our\u00a0<a href=\"http:\/\/[https:\/\/www.tannerdewitt.com\/practice-areas\/technology-media-and-telecommunications-tmt\/fintech\/](https:\/\/www.tannerdewitt.com\/practice-areas\/technology-media-and-telecommunications-tmt\/fintech\/)\" data-wplink-url-error=\"true\">Fintech\u00a0<\/a>practice, recaps on its key features and outlines the progress since its publication on the regulatory roadmap for the virtual asset market in Hong Kong.<\/p>\n<p><strong>Overview<\/strong><\/p>\n<p>ASPIRe is the regulatory roadmap from the SFC outlining its approach to regulating the Hong Kong virtual asset market. The SFC developed this forward-looking policy document to guide the market on its approach to balancing investor protection requirements with a safe environment for innovation and progress.<\/p>\n<p>The key underlying principles are:<\/p>\n<p>1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Provide forward-looking, broad regulatory coverage to avoid uncertainty from regulatory vacuums or new innovations;<\/p>\n<p>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adopt and apply existing traditional finance regulation to support an integrated market;<\/p>\n<p>3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Use fit-for-purpose regulatory frameworks to align regulation with desired outcomes;<\/p>\n<p>4.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Avoid unreasonable or unintended restrictions on innovation in industry processes and product offerings; and<\/p>\n<p>5.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Foster open dialogue with industry stakeholders and global regulators to encourage dissemination of insights and developments.<\/p>\n<p>The ASPIRe framework is built around five pillars, each with its dedicated objectives and regulatory initiatives. Let\u2019s look at each in turn.<\/p>\n<p><strong>\u201cA\u201d for Access<\/strong><\/p>\n<p>The current regulatory framework covers existing regulated intermediaries in the securities and futures sector, and primary virtual asset trading platforms. There are obvious gaps in regulatory coverage \u2013 primarily virtual asset OTC dealers and virtual asset custodians. Pillar A for access aims to address this by expanding market accessibility, primarily through regulatory enhancement. There are three key initiatives.<\/p>\n<p>1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 OTC trading, dealing, advisory and management services:<\/p>\n<p>1.1\u00a0\u00a0\u00a0\u00a0 The SFC has acknowledged that virtual asset OTC trading remains important for large volume transactions, allowing buyers and sellers to execute block trades without disruptive price impact. The SFC is also aware of the critical role of OTC desks in liquidity provision and institutional participation.<\/p>\n<p>1.2\u00a0\u00a0\u00a0\u00a0 The SFC will shape a specific licensing regime for virtual asset dealing services. The new licensing regime will mirror the standards applied to VATP regulation and will apply legal concepts that are familiar from the dealing in securities regulated activity currently overseen by the SFC. The SFC has stated that its approach will be to ensure the regulatory requirements are flexible and proportionate to the level of risk and complexity of the virtual asset dealing activity in question.<\/p>\n<p>1.3\u00a0\u00a0\u00a0\u00a0 The SFC and the Financial Services and the Treasury Bureau (FSTB) published the\u00a0<a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/EN\/news-and-announcements\/news\/doc?refNo=25PR210\" target=\"_blank\" rel=\"noopener\">consultation conclusions<\/a>\u00a0on a proposed virtual asset dealing regime in December 2025. Interested parties can now contact the SFC for pre-application discussions on the proposed virtual asset dealing regime.<\/p>\n<p>1.4\u00a0\u00a0\u00a0\u00a0 The SFC launched a\u00a0<a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/EN\/consultation\/doc?refNo=25CP12\" target=\"_blank\" rel=\"noopener\">further consultation<\/a>\u00a0on 24 December 2025 for standalone regimes for virtual asset advisory and virtual asset management service providers. The proposed requirements are intended to be substantially equivalent to the current Type 4 and Type 9 regulated securities activities licenses respectively.<\/p>\n<p>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Custody services:<\/p>\n<p>2.1\u00a0\u00a0\u00a0\u00a0 Virtual asset custody regulation in Hong Kong has been anachronistic. The requirement for VATPs to custody client virtual assets under a wholly owned subsidiary was a sensible and practical initial solution for the time when VATP licences first became available in Hong Kong. Third party providers have used the trust or company service provider (TCSP) licence regulated by the Companies Registry; this would not be described as fit-for-purpose regulation.<\/p>\n<p>2.2\u00a0\u00a0\u00a0\u00a0 The SFC will now shape a specific licensing regime for virtual asset custody services. This will allow for a two-tier market structure segregating trading and custody. The new licensing regime will mirror the standards applied to traditional financial custodians.<\/p>\n<p>2.3\u00a0\u00a0\u00a0\u00a0 The SFC and FSTB published the\u00a0<a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/EN\/news-and-announcements\/news\/doc?refNo=25PR210\" target=\"_blank\" rel=\"noopener\">consultation conclusions<\/a>\u00a0on a proposed virtual asset custodian regime in December 2025. SFC now encourages parties to contact the SFC for pre-application discussions on the proposed custodian regime.<\/p>\n<p>3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Liquidity providers:<\/p>\n<p>3.1\u00a0\u00a0\u00a0\u00a0 The SFC will clarify its regulatory and financial rules expectations to facilitate the onboarding process for institutional-grade liquidity providers, market makers and proprietary trading firms. The SFC\u2019s objective is to provide regulatory clarity to reduce barriers for liquidity providers to connect with Hong Kong VATPs.<\/p>\n<p>3.2\u00a0\u00a0\u00a0\u00a0 On 3 November 2025, the SFC published a\u00a0<a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/api\/circular\/openFile?lang=EN&amp;refNo=25EC56\" target=\"_blank\" rel=\"noopener\">circular<\/a>\u00a0permitting SFC-licensed VATPs to integrate their orderbooks with qualified overseas VATPs to form a Shared Order Book. The aim is to connect Hong Kong VATPs to the deeper global liquidity, while maintaining market integrity. VATPs who wish to utilise Shared Order Book will be subject to stringent regulatory requirements. The requirements include establishing a comprehensive set of internal rules governing the operation of the Shared Order Book, fully pre-funded orders, and unified cross-platform market surveillance.<\/p>\n<p><strong>\u201cS\u201d for Safeguards<\/strong><\/p>\n<p>There are three key regulatory initiatives under this pillar.<\/p>\n<p>1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Dynamic approach to custodianship:<\/p>\n<p>1.1\u00a0\u00a0\u00a0\u00a0 The SFC will aim to provide technology-neutral, outcome-based standards which will allow VASPs to adopt innovative solutions.<\/p>\n<p>1.2\u00a0\u00a0\u00a0\u00a0 For instance, the SFC will aim to allow VASPs to adopt tailor made hot\/cold storage strategies according to their risk profiles and operational\/liquidity demands. The approach will focus on the outcome rather than specific hot\/cold storage ratios.<\/p>\n<p>1.3\u00a0\u00a0\u00a0\u00a0 On 15 August 2025, the SFC published a\u00a0<a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/EN\/circular\/intermediaries\/supervision\/doc?refNo=25EC44\" target=\"_blank\" rel=\"noopener\">circular<\/a>\u00a0setting out the minimum compliance requirements for virtual asset platform operators with custody of virtual assets. These requirements foreshadow the requirements and obligations under the proposed licensing regime for virtual asset custodians. Minimum requirements include senior management obligations and mandatory cold wallet infrastructures.<\/p>\n<p>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Insurance and compensation frameworks: VASPs will be allowed to tailor their own compensation strategies. The resulting frameworks should align with global practices.<\/p>\n<p>3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Clarify investor onboarding and product categorisation: The SFC will provide guidance to clarify investor assessment and onboarding processes adopting the tried-and-tested existing regulatory regime for investor onboarding. Product categorisation will focus on the actual activity rather than the form of VAs.<\/p>\n<p><strong>\u201cP\u201d for Products<\/strong><\/p>\n<p>Presently, licensed VATPs operate almost within a closed loop of products and liquidity pools. The SFC recognises this issue, and acknowledges that the range of VA products and services covered under Hong Kong regulations should be expanded. The SFC are pursuing four initiatives under this pillar.<\/p>\n<p>1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Framework for professional investor-exclusive tokens and VA derivative trading:<\/p>\n<p>1.1\u00a0\u00a0\u00a0\u00a0 The existing framework will be expanded to enable professional investor-exclusive new tokens listing. Existing rigorous due diligence and disclosure requirements may be adopted.<\/p>\n<p>1.2\u00a0\u00a0\u00a0\u00a0 Regulated VA derivatives trading will also be permitted to be introduced to professional investors. This will allow for more strategies such as hedging and leveraging, which can help mitigate volatility and allow for more sophisticated risk management strategies.<\/p>\n<p>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 VA margin financing requirements: The SFC will align established margin financing protocols in traditional securities. This will safeguard VASPs and investors from excessive risk exposure and allow traditional finance to enter the market to enhance diversified market participation.<\/p>\n<p>3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Custody and operational guide for staking and borrowing\/lending services:<\/p>\n<p>3.1\u00a0\u00a0\u00a0\u00a0 On 7 April 2025, the SFC published a\u00a0<a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/EN\/circular\/doc?refNo=25EC22\" target=\"_blank\" rel=\"noopener\">circular<\/a>\u00a0setting out its regulatory approach in respect of virtual asset trading platforms offering staking as a service to its clients. Regulation of staking services will be supported by technical and custodial safeguards. Requirements will be set in place to mitigate custodial, slashing and liquidity risks.<\/p>\n<p>3.2\u00a0\u00a0\u00a0\u00a0 Professional investors may be allowed to participate in borrowing\/lending activities. Regulations will cover the handling of collaterals and assessing and mitigating of risks.<\/p>\n<p>4.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Expansion of VATP products, distribution and custody:<\/p>\n<p>4.1\u00a0\u00a0\u00a0\u00a0 On 3 November 2025, the SFC published a\u00a0<a href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/api\/circular\/openFile?lang=EN&amp;refNo=25EC57\" target=\"_blank\" rel=\"noopener\">circular<\/a>\u00a0expanding the products and services that SFC-licensed VATPs may offer. For token admission, the 12-month track record requirement is removed for offerings to professional investors (including for stablecoins). This is subject to full due diligence and adequate disclosures where the track record is under 12 months. For retail investors, the 12-month track record still applies, except for stablecoins issued by an HKMA-licensed issuer.<\/p>\n<p>4.2\u00a0\u00a0\u00a0\u00a0 The circular also clarifies that licensing conditions will be amended to expressly permit VATPs to distribute digital asset-related products and tokenised securities in accordance with existing SFC regulations, and to provide custody services for digital assets that have not been made available for trading via the VATP.<\/p>\n<p><strong>\u201cI\u201d for Infrastructure<\/strong><\/p>\n<p>The SFC will use new technologies and infrastructure to strengthen its oversight capabilities. There are two key initiatives under this pillar:<\/p>\n<p>1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Efficient reporting and advance surveillance: The SFC will implement means for straight-through reporting of digital asset information and data-driven surveillance tools capable of transaction monitoring, blockchain intelligence, wallet monitoring and tracing.<\/p>\n<p>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Cross-agency and cross-border collaboration: The SFC will adopt increased collaboration and intelligence sharing with local regulators and law enforcement agencies. Holistic risk monitoring and surveillance capabilities will further promote cross-border cooperation with global regulators.<\/p>\n<p><strong>\u201cRe\u201d for Relationships<\/strong><\/p>\n<p>SFC will emphasise transparency in the policymaking process to enable constructive contributions from the industry stakeholders. There are two initiatives under this pillar.<\/p>\n<p>1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Regulation for financial influencers: The SFC recognises the influence of digital channels on investors\u2019 perceptions and financial behaviours in respect of virtual assets. The regulatory framework will aim to encourage financial influencers to contribute constructively to educate the public and advocating the best practices. The SFC will likewise be vigilant and initiate enforcement action against reckless activity that may cause risk and harm to the public.<\/p>\n<p>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sustainable communication and talent network: The SFC has set up the\u00a0<a href=\"https:\/\/www.sfc.hk\/en\/Welcome-to-the-Fintech-Contact-Point\/Virtual-assets\/Virtual-Asset-Consultative-Panel\" target=\"_blank\" rel=\"noopener\">Virtual Asset Consultative Panel<\/a>\u00a0to engage with market participants, industry stakeholders and global forums to obtain insights on market developments. The SFC will foster an open dialogue with industry participants to facilitate clear communication of the regulatory position and best regulatory practices.<\/p>\n<p><strong>Conclusion<\/strong><\/p>\n<p>We are almost at the first anniversary of when the ASPIRe framework was first published. It represented a thoughtful and strategic approach by the SFC to regulate virtual asset activities in Hong Kong. At that point in time, it was aspirational by name and nature. Since then, the SFC has made significant strides to implementing the roadmap it has outlined. We have seen positive progress on new licensing regimes for virtual asset dealing and custody services, new consultations on licences for virtual asset advisory and management activities, new guidance around staking activities, and more avenues to facilitate broadening product offerings and access to global liquidity pools.<\/p>\n<p>The progress made under each pillar demonstrates the SFC\u2019s commitment to building a robust and forward-looking regulatory environment for the virtual asset market in Hong Kong.<\/p>\n<p class=\"has-text-align-right\"><strong><em>P\u00e1draig Walsh\u00a0<\/em><\/strong><\/p>\n<p>If you want to know more about the content of this article, please contact:<\/p>\n<p><a href=\"https:\/\/www.tannerdewitt.com\/our-people\/padraig-walsh\/\"><strong>P\u00e1draig Walsh<\/strong><\/a><\/p>\n<p>Partner |\u00a0<a href=\"mailto:PadraigWalsh@tannerdewitt.com\">Email<\/a><\/p>\n<p><em>Disclaimer: This publication is general in nature and is not intended to constitute legal advice. You should seek professional advice before taking any action in relation to the matters dealt with in this publication. This article was last reviewed on 16 January 2026.<\/em><\/p>\n<\/div>\n<\/div>\n\n\n","protected":false},"excerpt":{"rendered":"<p>On 19 February 2025, the Securities and Futures Commission (SFC) published ASPIRe, its regulatory roadmap for Hong Kong\u2019s virtual asset market. It\u2019s a fine document, and an inspired acronym. As we approach the first anniversary of its publication,\u00a0P\u00e1draig Walsh, who leads our\u00a0Fintech\u00a0practice, recaps on its key features and outlines the progress since its publication on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31864,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"tags":[],"insight-category":[1121],"insight-month":[1154],"insight-practice-area":[1131],"insight-year":[1147],"class_list":["post-31867","insight-and-news","type-insight-and-news","status-publish","has-post-thumbnail","hentry","insight-category-legal-updates-and-insights","insight-month-may","insight-practice-area-employment","insight-year-1147"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news\/31867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news"}],"about":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/types\/insight-and-news"}],"author":[{"embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":7,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news\/31867\/revisions"}],"predecessor-version":[{"id":32060,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news\/31867\/revisions\/32060"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/media\/31864"}],"wp:attachment":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=31867"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=31867"},{"taxonomy":"insight-category","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-category?post=31867"},{"taxonomy":"insight-month","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-month?post=31867"},{"taxonomy":"insight-practice-area","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-practice-area?post=31867"},{"taxonomy":"insight-year","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-year?post=31867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}