Hong Kong Official Urges Use Of Licensed Exchanges For Virtual Currency Trading

According to Odaily, Hong Kong's Deputy Secretary for Financial Services and the Treasury, Joseph Chan, has advised investors to engage in virtual currency trading through licensed exchanges. Chan emphasized that the Hong Kong government is actively working to build a comprehensive ecosystem for virtual assets. The Invest Hong Kong department is currently promoting the expansion of related businesses in the region. The virtual asset ecosystem encompasses not only exchanges but also exchange-traded funds (ETFs) for virtual assets and central bank digital currencies (CBDCs). The government has completed consultations on the regulation of stablecoins and is now preparing relevant legislation to be submitted to the Legislative Council for review.