Xu Zhengyu: Continuously reviewing and improving regulatory systems to cultivate a more complete virtual asset ecosystem in Hong Kong

ChainCatcher news, according to Yahoo Finance, the Secretary for Financial Services and the Treasury, Christopher Hui, stated that he is continuously reviewing and improving Hong Kong's regulatory framework to cultivate a more complete virtual asset ecosystem, including the development of a comprehensive framework that encompasses virtual asset exchanges, stablecoin issuers, custodians, and over-the-counter trading activities.

Christopher Hui mentioned that Hong Kong is building a bridge between traditional finance and the rapidly developing digital economy. The regulatory framework has established a solid foundation for this transformative trend. For example, the Securities and Futures Commission has announced regulatory expectations for intermediaries engaging in tokenized securities-related activities, providing clarity for market participants and fostering a trustworthy innovation environment. He emphasized that the trends of tokenization and the transformation brought by artificial intelligence can only reach their full potential within a reliable and adaptable regulatory system, which will protect the market with fairness, consistency, and the highest standards.