The Hong Kong government has communicated with the Hong Kong Securities Supervision Commission to process all virtual asset platform applications as soon as possible

According to the Hong Kong media report, the Hong Kong government will maintain close communication with the Securities Supervision Commission, so that the Securities Supervision Commission can process the applications of all platforms as soon as possible, so that the public and investors can have more peace of mind investment choices. Looking forward, Hong Kong will further improve the regulatory framework, including regulating virtual asset over the counter service providers, to build a stable ecosystem for the virtual asset industry and promote its responsible and sustainable development. The Hong Kong Securities Supervision Commission stressed yesterday that while virtual asset trading platforms that are deemed to be licensed have committed to strengthening their policies, procedures, systems and controls to comply with the Securities Supervision Commission's regulatory requirements, they still need to demonstrate that the actual implementation and effectiveness of these measures can be satisfied by the Hong Kong Securities Supervision Commission. The Securities Supervision Commission does not expect these platforms to actively promote their services or establish business relationships with new retail customers until they are officially licensed.