Hong Kong Intends to License Virtual Asset Trading Platforms with Compulsory Measures

Abstract : Hong Kong planned to facilitate the healthy development of the virtual asset market.

ChainDD
ChainDD

Nov 25

According to 21jingji, Paul Chan Mo-po, the current Financial Secretary of Hong Kong and former Secretary for Development of Hong Kong Special Administrative Region, stated that the basic attitude of the Hong Kong Special Administrative Region government towards the virtual asset was to open cautiously. 

However, he also mentioned, "the premise is that the virtual asset should not affect the stability of the overall financial system, and the rights and interests of investors should be properly protected."

Paul Chan Mo-po revealed that the Hong Kong Special Administrative Region government planned to establish a robust regulatory framework in order to maintain financial security and facilitate the healthy development of the virtual asset market. 

Besides, virtual asset trading platforms which are licensed by the Hong Kong SFC can make more high-quality virtual asset dealers settle in Hong Kong. 

Also, this will help SFC better control risks related to money laundering and market manipulation while seizing opportunities for financial innovation, and promote the healthy and orderly development of the market.

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