Hong Kong Gives a Green Light – Is It Really the Start of a Bull Market?

 Hong Kong, June 26, 2023 — The Hong Kong Securities and Futures Commission (SFC) CEO Julia Leung Fung-yee highlighted the importance of cryptocurrency trading in the development of the virtual asset ecosystem. In her speech she also expressed her support for the use of related technologies in financial services and discussed the importance of regulation after the FTX exchange collapse.

 Leung Fung-yee has supported the use of related technologies in financial services including bond tokenization and investment funds. She noted that these innovations contribute to the development of financial markets and create new opportunities for investors.

 The SFC CEO spoke about the introduction of a new licensing system for virtual asset providers that aims at providing security and addressing the risks associated with financial institutions. She emphasized that it is necessary to innovate and increase confidence in the market after the events associated with the FTX bankruptcy.

 This year on June 1 a new cryptocurrency regulatory framework came into effect including strict anti-money laundering regulations and investor protection laws for digital asset exchanges who wish to set up a business in Hong Kong.

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