Hong Kong Securities and Futures Commission: Reviewing five virtual asset trading platforms, supporting the industry to proactively tokenize traditional financial instruments

Huang Lexin, Director of the Licensing Division and Head of the Fintech Group of the Intermediary Institutions Department of the Hong Kong Securities and Futures Commission, said that they are exploring how to regulate other virtual asset activities in Hong Kong, actively considering how to incorporate other virtual asset activities into the regulatory system, balancing market development and investor protection, and considering whether and how to expand the types of virtual asset services and products currently available. Huang Lexin mentioned that the Hong Kong Securities and Futures Commission is currently reviewing five virtual asset trading platforms. In response to the large number of applications, the licensing process has been optimized. In the past few months, different regulatory tools have been used to conduct multiple on-site inspections of applicants for licensing, which is believed to speed up the licensing process. And continue to support the industry to actively tokenize traditional financial instruments. The vision is that if developed and used properly, distributed ledger technology may become a key infrastructure in the financial market. (NOW Finance)