Hong Kong Securities Association Proposes Unified Regulatory Body for Virtual Assets

According to Odaily, during the public consultation for this year's Policy Address by the Chief Executive of Hong Kong, the Hong Kong Securities and Futures Professionals Association made several recommendations regarding the securities industry. Among these suggestions, the establishment of a unified regulatory body for virtual assets was highlighted as particularly important due to the rapid development of the virtual asset market. A unified regulatory body could provide consistent regulatory standards and procedures, ensuring market stability and security, boosting investor confidence, and promoting the healthy development of the virtual asset market. Additionally, the association emphasized the importance of enhancing training in the virtual asset field as a rational measure to manage risks associated with virtual assets. By offering professional training and guidance, practitioners can gain a more comprehensive understanding of the operational mechanisms of the virtual asset market, develop effective risk management measures, and ensure the stability of the financial system.