Hong Kong Financial Secretary to Submit Draft for Virtual Asset Trading Licensing System This Year
Prefer us on GoogleThe Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, stated that a draft amendment to the regulations will be submitted within this year to establish a licensing system for virtual asset trading, custody, advisory, and management services. The Financial Secretary's office and the Monetary Authority are studying ways to optimize the legal framework to encourage industries such as technology and telecommunications to enhance the detection and removal of content related to fraud, including the misuse of AI-generated content.
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