Hong Kong will soon launch a licensing system for cryptocurrency "exchange shops."

ChainCatcher news, according to a report from the Hong Kong Economic Journal, OSL Group's Chief Financial Officer Hu Zhenbang revealed in a recent interview that Hong Kong may introduce a licensing system for cryptocurrency "exchange shops" in the short term.

In addition, Hu Zhenbang stated that once the licensing system comes into effect, the account opening process, including identity verification, will be strictly regulated. Moreover, in recent years, the SAR government's attitude towards the development of virtual assets has been very positive, with new policies being introduced almost every quarter to promote market development. The characteristics of Hong Kong's virtual asset licenses also expand the advantages of the entire market.