Odaily Planet Daily News Ruan Guoheng, deputy president of the Hong Kong Monetary Authority, said that the relevant design work on the stable currency regulatory system is still in progress. After completion, market opinions will be solicited before formal legislation.
Talking about the recent suspected fraud incident on the virtual asset platform JPEX, Ruan Guoheng said that when developing the crypto asset business in Hong Kong, it should focus on the possibilities brought by technology platforms, emphasizing the impact of distributed ledger technology (DLT) and tokenization technology on the operation of the entire financial market. There are benefits. New technologies bring risks as well as opportunities. Recent events have highlighted the need for an effective regulatory system in Hong Kong. People with ulterior motives may use technology to package some transactions into unregulated products, and the operation of the relevant transactions may not be illegal. Investors should be particularly careful when conducting relevant investment activities. (Economic Journal)