Xu Zhengyu: Hong Kong regulators will review rules for cryptocurrency-related activities "as appropriate"

Hong Kong SAR government Financial Services and Treasury Secretary Paul Chan said that as the cryptocurrency industry develops, regulators will review requirements for cryptocurrency-related activities as needed. Paul Chan said today that the Hong Kong Monetary Authority and the Securities and Futures Commission will "closely monitor market developments and review regulations on virtual asset-related activities where appropriate." He made the comments when a lawmaker asked whether regulators would speed up the review process for cryptocurrency licenses and relax rules for intermediaries to distribute crypto assets. (The Block)