ChainCatcher message, regarding the public consultation for this year's "Policy Address" by the Chief Executive of Hong Kong, the Executive Director of the Hong Kong Securities and Futures Professionals Association, Tsang Yu-cheng, proposed several suggestions concerning the securities industry to the Chief Executive. Among them, he pointed out that with the rapid development of the virtual asset market, establishing a unified regulatory body to enhance the efficiency of virtual asset regulation is particularly important. A unified regulatory body can provide consistent regulatory standards and procedures, ensuring market stability and security, enhancing investor confidence, and promoting the healthy development of the virtual asset market. At the same time, strengthening training in the field of virtual assets is also an important measure for rationally managing virtual asset risks. By providing professional training and guidance, practitioners can gain a more comprehensive understanding of the operational mechanisms of the virtual asset market, formulate effective risk management measures, and ensure the stability of the financial system.

ChainCatcher news, according to Cointelegraph, during a regulatory panel discussion at Paris Blockchain Week, Matthew White, CEO of the Dubai Virtual Assets Regulatory Authority (VARA), stated that the digital asset regulatory agency aims to provide a more favorable environment for smaller crypto entities. He acknowledged that cryptocurrency regulation is not perfect and is looking for ways to improve it. One plan currently under consideration is to alleviate the financial burden on small crypto businesses, as compliance is a "costly endeavor." The regulatory agency has recognized this issue and is seeking solutions.White explained a potential solution, which is a market structure example where larger participants can "host" smaller ones. In this structure, the costs would be borne by the more resource-rich entities. White also mentioned that considering issues like this is part of the process for regulators to establish rules while allowing for innovation, and they will continue to engage with the industry to better understand it.

ChainCatcher news, according to News1, the Financial Supervisory Service of South Korea has announced the establishment of the "Virtual Asset Regulatory Bureau" and the "Virtual Asset Investigation Bureau," which will specifically oversee virtual assets to establish market order before the implementation of the "Virtual Asset User Protection Act" in July next year.It is reported that the Virtual Asset Regulatory Bureau is the regulatory department for virtual assets, responsible for the supervision and inspection of virtual asset operators, market monitoring, and system improvement. In addition, it plans to establish a regulatory system related to virtual assets to stabilize the market. The Virtual Asset Investigation Bureau is a department focused on combating market disruption through investigations of unfair trading practices. The key is to prevent unfair trading from disrupting market order and causing harm to users.The head of the Virtual Asset Regulatory Bureau will be Lee Hyun-deok (transliteration), the current second director of the Financial Investment Supervision Bureau. Additionally, Moon Jeong-ho (transliteration), the current head of the Accounting Supervision First Bureau, will serve as the head of the Virtual Asset Investigation Bureau.