Hong Kong Securities and Futures Commission: is currently reviewing five virtual asset trading platforms, supporting the industry's initiative to tokenize TradFi tools.

Odaily Planet Daily News Hong Kong Securities and Futures Commission ARACI agency head of licensing and financial technology group director Huang Lexin said that it is exploring how to regulate other virtual asset activities in Hong Kong, actively considering how to include other virtual asset activities in the regulatory system, balance market development and investor protection, and consider whether and how to expand the virtual asset services and product types currently available. Huang Lexin mentioned that the Hong Kong Securities and Futures Commission is currently reviewing five virtual asset trading platforms, optimizing the licensing process in response to numerous applications. In the past few months, multiple on-site inspections have been conducted on applicants for licensing using different regulatory tools, which is believed to accelerate the licensing process. And continue to support the industry’s 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)