ChainCatcher news, according to Caixin, the Hong Kong SAR government announced that the Chief Executive of the Hong Kong SAR has appointed Dr. Huang Tianyou as the Chairman of the Securities and Futures Commission (SFC) in accordance with the Securities and Futures Ordinance (Chapter 571), for a term of three years, from October 20, 2024, to October 19, 2027.

ChainCatcher news, according to the Hong Kong Radio website, the chairman of the Hong Kong Securities and Futures Commission, Leung Tin-leung, stated during a speech at an event today that the first batch of virtual asset spot exchange-traded funds (ETFs) in Hong Kong has been operating smoothly since its listing in April, with a current market value exceeding 300 million USD. With the launch of the first Asian virtual asset futures ETF product, retail investors can manage related risks, and it is believed that innovative products can drive the Hong Kong financial market forward.Leung emphasized that as a financial center, Hong Kong needs to continue enhancing its resilience through innovative technology and sustainable finance. He also noted the potential advantages of blockchain technology, such as reducing transaction costs, with asset and securities tokenization being one of the main use cases. Currently, there is close collaboration with the Hong Kong Monetary Authority to explore more different tokenization use cases, with the hope of establishing a related ecosystem. Leung also reminded that virtual assets carry significant volatility risks and should not be considered investment advice. However, as professional and retail investors have different risk appetites and invest in virtual assets through various channels, the Hong Kong Securities and Futures Commission decided to introduce a regulatory framework to govern the activities of related trading platforms.