ChainCatcher news reports that industry insiders indicate that financial services companies in Hong Kong are racing to prepare the groundwork to enable retail clients to trade virtual assets in the coming months.Robert Lui, head of digital assets at Deloitte Hong Kong, stated, "We have found that many local brokers and fund management companies are seeking our advice regarding the licensing requirements under the new regulatory regime." He added that the authorities may allow retail investors to trade virtual assets with larger market capitalization and liquidity.Currently, brokers do not need additional specific licenses to provide clients with trading services for Hong Kong-listed ETF futures based on Bitcoin and Ethereum. However, Lui added that companies planning to offer active trading of virtual assets (such as cryptocurrencies and their related futures products) will need to obtain additional approval from the Hong Kong Securities and Futures Commission. (South China Morning Post)According to previous reports, the Hong Kong Legislative Council passed amendments to combat money laundering and terrorist financing, which will establish a licensing system for virtual asset service providers. The Secretary for Financial Services and the Treasury, Christopher Hui, stated that the new system will take effect on June 1, 2023, and virtual asset trading platforms will be required to comply with anti-money laundering and counter-terrorist financing regulations, just like traditional financial institutions. (Source link)