Wu Jiezhuang: At present, any claim to be "licensed over the counter" is misleading, and the Hong Kong government department has not issued a license yet

Hong Kong Legislative Council Member Ng Kit-chuang posted on social platforms today that the Hong Kong government is about to hold the second round of consultation "Public Consultation on Legislative Proposals to Regulate Virtual Assets Over the Counter". Due to the frequent occurrence of related fraud cases recently, the risk of regulatory vacuum has intensified, so licensed exchanges must be used. Ng Kit-chuang also said that the current virtual assets over the counter (OTC) legislation has not yet come into effect, and any claim to be "licensed over the counter" is misleading. At this stage, no Hong Kong government department has issued a license for virtual assets over the counter.