Hong Kong Securities Supervision Commission: Virtual Asset Roadmap Released in the Afternoon, Proposed to Allow Pledging and Margin Loans

According to reports, Liang Fengyi, chief executive of the Hong Kong Securities Supervision Commission, said at the Consensus Forum that a virtual asset roadmap will be released this afternoon to formulate forward-looking strategies by studying the direction of future development. These include expanding the products and services of licensed virtual asset trading platforms, considering allowing pledges, providing derivatives to professional investors, and also considering providing margin loans to certain customers. In addition, operational processes will be optimized, including hot wallet and cold wallet regulations, and custody requirements and insurance requirements will be adjusted. What will be reviewed in terms of compliance and how to optimize to really maximize operational processes.