【Hong Kong Legislative Council Member: The Hong Kong Government Is About To Launch Legislative Proposals For The Regulatory System For Stablecoin Issuers And The Regulatory System For Virtual Asset Over-the-counter Exchanges】 Hong Kong Legislative Council Member Li Weihong Wrote An Article In Ta Kung Pao, Focusing On How To Expand New Market Opportunities, Improve The Pain Points Of Hong Kong's Financial Services Industry And Enhance Economic Development Momentum. He Pointed Out That He Welcomes The Hong Kong Securities Regulatory Commission To Relax Investor Restrictions On Virtual Asset Transactions And Moderately Allow Retail Investors To Participate; He Suggested That Regulators Steadily Increase Retail Investors' Participation In More Different Virtual Asset Product Transactions (including Adding Different Currencies) Through Strengthening Investor Education, And Emphasized That They Will Receive Greater Regulatory Protection For Buying And Selling On Local Compliance Platforms To Promote The Development Of Hong Kong's Virtual Asset Market.
At The Same Time, The Industry Also Expects The Securities Regulatory Commission To Speed Up The Approval Of Asset Management License Upgrades And Moderately Relax The Regulations On Intermediaries Selling Virtual Asset ETFs (such As Relevant Product Statements And Customer Knowledge Assessments).
Li Weihong Said That The Hong Kong SAR Government Is About To Launch Legislative Proposals For The Regulatory System For Stablecoin Issuers And The Regulatory System For Virtual Asset Over-the-counter Exchanges; He Hopes That The Approval Process For Related Licensing In The Future Will Be As Streamlined As Possible, And The Threshold Requirements Should Not Be Too High, So As To Achieve An Appropriate Balance Between Regulation And Market Development