Hong Kong Financial Secretary: Several virtual asset trading platform licenses may be issued before the end of the year

ChainCatcher news, according to Hong Kong media Xin Bao, the Financial Secretary of Hong Kong, Paul Chan, stated that since the publication of the digital asset policy declaration two years ago, there have been several developments in the short term, including the introduction of regulatory requirements for virtual asset trading platforms. So far, three operators have been licensed, and several more licenses are expected to be issued by the end of this year. The Hong Kong government plans to promote legislation on this matter.

Paul Chan also mentioned that an important theme in the financial sector for the next two years is: blockchain and artificial intelligence (AI). While the government embraces new technologies, it also pays attention to the potential risks they bring, making balance and regulation very important. Since the beginning of this year, the largest fintech investments in Asia include three in mainland China and two in Hong Kong, indicating the attractiveness of the Hong Kong fintech market.