Hong Kong Regulators Plan to Evaluate Existing Crypto Rules

According to Hong Kong’s financial secretary, the regulations surrounding cryptocurrency-related activities will be continuously reviewed as the industry continues to evolve.

Christopher Hui, the Secretary for Financial Services and the Treasury, stated during a parliamentary session that both the Hong Kong Monetary Authority and the Securities and Futures Commission will closely monitor market developments and make necessary adjustments to the requirements for virtual asset-related activities.

He answered a question from a lawmaker regarding the possibility of expediting the vetting process for crypto licenses and loosening restrictions for the distribution of crypto assets by intermediaries.

Hui also clarified that licensed corporations and registered institutions can distribute crypto products after notifying the regulators, without the need to modify their licensing conditions.