Crypto Needs "a More Solid Footing" in Hong Kong

Crypto Needs "a More Solid Footing" in Hong Kong, Says Finance Regulator

[{"selector":"#anim-d7441798-13a1-4272-9b27-caa491455fbc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Friends who ran investment funds and invested in crypto introduced Christopher Hui to crypto.

[{"selector":"#anim-a4db6c4c-6457-49f6-914e-fb00875bb79a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] He's shaping financial services policy as secretary for Financial Services and the Treasury of Hong Kong (FSTB).

[{"selector":"#anim-f6ce2d43-8b63-4592-a159-aa14d2ce7ada [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.270204627727637%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] He asked a colleague at Hong Kong FinTech Week in early November if he should buy his first virtual asset.

[{"selector":"#anim-57da87ac-4bc7-4be4-a064-89b54607eb56 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-20.57692339915784%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The industry expected a regulatory framework, but not the shift in posture.

[{"selector":"#anim-80f6f225-a0a9-4052-b5f2-d4e5571ab24d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.22656238608351%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] At the moment, crypto is governed by a number of different authorities in Hong Kong.

[{"selector":"#anim-caa77426-a233-44dc-bc22-7b006ad6fc89 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(18.846154141284764%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The Securities and Futures Commission enforces and the Hong Kong Monetary Authority investigates stablecoins.

[{"selector":"#anim-81ff616c-b055-4d1b-b7e8-09199ba99bc8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(42.0722656412313%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Hui added that technology can shorten initial public offering subscriptions and other bottlenecks. Learn more