Liang Fengyi: The Hong Kong Securities and Futures Commission is more concerned about the blockchain technology behind virtual assets

Fung-yee Leung, CEO of the Hong Kong Securities and Futures Commission, said that despite the recent strong performance of Bitcoin, the SFC is more concerned about the blockchain technology behind virtual assets and the financial technology and services it generates. The SFC will accelerate the development of a blockchain-based financial technology ecosystem, including tokenized bonds and investment products, to improve the efficiency of traditional financial settlements. Fung-yee Leung pointed out that central bank digital currencies and stablecoins can effectively reduce the cost of cross-border remittances, and suggested giving them more opportunities during the technological development stage. In addition, the Hong Kong Securities and Futures Commission plans to establish a regular meeting mechanism with Middle Eastern regulators twice a year, and the first meeting will be held in Hong Kong next year. (Jinshi)