Bill on Virtual Assets Over the counter will be submitted to the Legislative Council for scrutiny as soon as possible

Hong Kong's acting secretary for financial services and the treasury, Chen Hao Lian, said that the listing of Asia's first virtual asset spot ETF in Hong Kong confirms Hong Kong's leading position in the virtual asset market in Asia.
In his speech at the listing ceremony, Chen Haolian said that after the government issued a policy statement on the development of virtual assets in Hong Kong the year before last, the industry responded positively. In formulating the regulatory system, we have made reference to the experience of applying the supervision of Hong Kong's financial marekt to ensure the sustainable development of virtual assets in Hong Kong. In the future, we will continue to strive to establish a vibrant and stable virtual asset ecosystem through different measures.
He also pointed out that the consultation on the regulation of stablecoins has ended and the views collected are currently being analysed. As for the virtual assets over the counter system bill, it will also be submitted to the Legislative Council for scrutiny as soon as possible.
He stressed 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, ensuring that the market is stable and the interests of investors are protected, promoting market diversification and creating greater opportunities for the financial services industry.