Deputy Secretary for Security of Hong Kong: Hong Kong Customs has no authority to regulate virtual currency

ChainCatcher news, according to the Hong Kong Economic Journal, the Hong Kong Legislative Council's Security Affairs Committee discussed the latest developments regarding customs participation in international activities yesterday, mentioning the JPEX case and issues related to virtual currency regulation. Hong Kong's Deputy Secretary for Security, Choi Hau-yeh, stated that the current laws empower customs mainly to monitor money exchange shops, and since virtual currency is not considered legal tender, customs has no authority to regulate it; regarding how virtual currency and virtual assets will be regulated in the future, the government and relevant regulatory bodies are continuously reviewing the situation and working to improve the regulatory framework.