ChainCatcher news, according to Media OutReach Newswire, Victory Securities has signed a memorandum of understanding with the virtual asset ecosystem organization Virtual Seed Global. The two parties have a high degree of complementarity in compliance, risk control, investment research, and other aspects of virtual assets, and will provide investors with virtual asset fund products based on the overall goals and requirements of the compliance system in the future.Chen Peiquan, Executive Director of Victory Securities, stated that clients have an increasing demand for investment in different categories of assets. As the virtual asset industry is in a period of rapid development globally, they will actively collaborate with professional virtual asset institutions to establish compliant products.

ChainCatcher live report, the 2024 Hong Kong Web3 Carnival opened today at the Hong Kong Convention and Exhibition Centre. During the roundtable discussion themed "The Future Development of the Asian Virtual Asset Industry: Trends, Innovations, and Regulations," Yang Jianyan, Secretary General of the Hong Kong Virtual Asset Industry Association, mentioned that there are three structural issues that need to be addressed for the development of virtual assets in Hong Kong: First, there is a gap between the friendliness of Hong Kong's banking sector towards crypto and the current expectations of enterprises; second, although the government has introduced relevant regulatory policies, there are still many bottlenecks, such as overly stringent KYC requirements, with a pass rate that may be less than one percent, indicating that policies need adjustment; third, there is still room for optimization in the overall aggregation of the Hong Kong Web3 industry, with no clear focus on attracting the entire industry, and the costs of supporting industries remain relatively high.