Hong Kong Urged to Regulate Virtual Asset Transactions

According to Odaily, Hong Kong Customs estimates that there are currently around 200 physical virtual asset over-the-counter (OTC) trading shops and ATMs across the city. Additionally, approximately 250 digital platforms offer virtual asset trading services. Hong Kong Legislative Council member Duncan Chiu emphasized the urgent need to regulate these OTC shops and ATMs to prevent regulatory gaps in anti-money laundering efforts. He also suggested that the Hong Kong government expedite the second round of public consultation on the licensing system for virtual asset OTC service providers and accelerate legislative work.