The chairperson of the Hong Kong Securities and Futures Federation, Chan Chi-wah, has called on Hong Kong's virtual asset market to relax restrictions on mainland residents' participation

Chan Chi-wah, chairperson of the Hong Kong Securities and Futures Federation, proposed six keys for Hong Kong to enhance the virtual asset sector, including: Relaxing the participation restrictions for mainland residents and allowing more mainland residents to participate in Hong Kong's virtual asset market, which will introduce a large amount of capital and technology, enhance the vitality and liquidity of the market, and expand Hong Kong's influence as a financial center. In a recent judgment of the Songjiang District People's Court in Shanghai, the court ruled that it is not illegal for individuals to hold virtual currencies. In this direction, according to the foreign exchange control, we can refer to the practice of "Hong Kong Stock Connect" to allow domestic funds to invest in virtual asset-related products in Hong Kong in a closed-loop manner, such as starting from ETFs.