Hong Kong Securities and Futures Commission submits new fiscal year budget proposal: plans to create additional positions to strengthen the regulation of virtual assets

ChainCatcher news, according to Hong Kong media East Net, the Hong Kong Securities and Futures Commission submitted a new financial budget proposal for the upcoming fiscal year to the Legislative Council's Financial Affairs Committee, updating the deficit forecast for the current fiscal year (2024/25) to HKD 148 million, while the deficit for the fiscal year 2025/26 is expected to reach HKD 238 million. At the same time, the Hong Kong Securities and Futures Commission proposed the addition of 15 new positions, of which 8 are aimed at strengthening personnel support for the virtual asset regulatory system, market surveillance, and enforcement investigations, and 7 are to enhance information technology and institutional support.