The Hong Kong Securities Regulatory Commission requires that if the service provider of the virtual asset trading platform does not submit a license application, it will end the business in Hong Kong before May 31.
Comprehensive Ming Pao and Radio Hong Kong reported that the transitional arrangement of the Hong Kong virtual asset trading platform's transitional arrangement expired on Thursday (February 29).
Liang Fengyi, the CEO of the Hong Kong Securities Regulatory Commission, said that the Securities Regulatory Commission issued a communication letter on the tokenization recognition of investment products in November last year.Guidelines, content involves due diligence, risk disclosure requirements, etc.
Liang Fengyi said that the supervision principle of the Securities Regulatory Commission's supervision of tokensized securities products is "the same business, the same risks, and the same rules."
After the fraud in the Hong Kong virtual asset trading platform JPEX last year, the Hong Kong Special Administrative Region Government established a specialized working group to strengthen the supervision of the virtual asset trading platform.
