Hong Kong Advances Digital Asset Regulations And Embraces Blockchain And AI

According to BlockBeats, on October 28, Hong Kong's Financial Secretary Paul Chan Mo-po disclosed significant progress in the region's digital asset policies since the declaration made two years ago. Key developments include the introduction of regulatory requirements for virtual asset trading platforms, with three operators already licensed. Several more licenses are expected to be issued by the end of this year, and the Hong Kong government plans to push for related legislation within the same timeframe. Chan also highlighted that the major themes in the financial sector over the next two years will be blockchain and artificial intelligence (AI). While the government is keen to embrace these new technologies, it is also mindful of the potential risks they pose, emphasizing the importance of balanced regulation. This year, the largest fintech investments in Asia included three in mainland China and two in Hong Kong, underscoring the attractiveness of Hong Kong's fintech market.