According to ChainCatcher news, as reported by Sing Tao Daily, the Secretary for Financial Services and the Treasury, Hui Chengyu, mentioned during a media interview while accompanying Hong Kong Chief Executive John Lee on a visit to three ASEAN countries that since the publication of the "Policy Declaration on the Development of Virtual Assets in Hong Kong" last October, 90 mainland and overseas companies related to virtual assets have expressed their intention to settle in Hong Kong. He expressed confidence that the government's establishment of a comprehensive licensing system for virtual asset service providers by mid-year will help ensure the market develops in a stable and orderly manner, and protect investors' interests.

ChainCatcher news, the Vice President of the Hong Kong Monetary Authority, Yuang Guoheng, published an article titled "Embracing Opportunities • Addressing Account Opening," stating that in recent months we have actively discussed with banks and indicated that there are no legal or regulatory requirements prohibiting banks operating in Hong Kong from providing banking services to virtual asset-related institutions.As the regulatory framework for virtual asset activities in Hong Kong is gradually implemented, and as countries around the world strengthen relevant regulations based on international standards, banks' understanding of the virtual asset industry is also deepening. We expect that regulated virtual asset service providers will gradually succeed in opening bank accounts through reasonable procedures. To address account opening demands and streamline processes, the Monetary Authority will issue a circular to banks later today to further clarify some industry questions regarding customer due diligence and share some processed cases and best practices for industry reference.In addition, the Monetary Authority will hold a roundtable meeting tomorrow with the Securities and Futures Commission to directly communicate with the banking industry and some virtual asset-related institutions about the "difficulty in account opening" and share useful information. (Source link)