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Chen Haolian: The draft bill on virtual asset over-the-counter trading system will be submitted to the Legislative Council for deliberation as soon a

CointimeCointime2024/04/30 06:43
By:Cointime

Chan Ho-lim, Acting Secretary for Financial Services and the Treasury of Hong Kong, stated that the first virtual asset spot ETF in Asia has been listed in Hong Kong, confirming Hong Kong's leading position in the virtual asset market in Asia. Chan Ho-lim said at the listing ceremony that the industry has responded positively since the government issued a policy statement on the development of virtual assets in Hong Kong two years ago. When formulating regulatory regimes, reference was made to the experience of regulating the Hong Kong financial market to ensure the sustainable development of virtual assets in Hong Kong. In the future, the government will continue to establish a vibrant and stable virtual asset ecosystem through different measures. He also pointed out that the consultation on regulating stablecoins has ended and the opinions collected are currently being analyzed. As for the draft regulation of the off-exchange trading system for virtual assets, it will be submitted to the Legislative Council for deliberation as soon as possible. He emphasized that as a leading international financial center in Asia, Hong Kong has a solid foundation and a highly open economy. Combined with traditional financial and virtual asset platforms, Hong Kong will continue to make good use of its unique advantages in the future to promote the depth and breadth of the virtual asset market, ensure market stability and safeguard the interests of investors, promote diversified development of the market, and create greater opportunities for the financial services industry.

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