Hong Kong Securities and Futures Commission: Currently reviewing five virtual asset trading platforms, supporting the industry's proactive tokenization of TradFi tools.

Odaily Planet Daily News Hong Kong’s Securities and Futures Commission intermediary institutions department licensing technology director Huang Lexin said that they are exploring how to regulate other virtual asset activities in Hong Kong, actively considering how to incorporate other virtual asset activities into the regulatory system, balance market development and investor protection, and consider whether and how to expand the types of virtual asset services and products currently available. Huang Lexin mentioned that the Hong Kong Securities and Futures Commission is currently reviewing five virtual asset trading platforms. In response to the large number of applications, the licensing process has been optimized. In the past few months, multiple on-site inspections have been conducted on applicants for licenses using different regulatory tools, which is believed to accelerate the licensing process. The industry will continue to support the proactive tokenization of TradFi tools, with the vision that if developed and used properly, distributed ledger technology may become a key infrastructure in the financial market. (NOW Finance)