Hong Kong Securities and Futures Commission Q2 Quarterly Report: The total market value of six virtual asset spot ETFs is HK$2.4 billion, and 9 trading platforms have been included in the warning list

The Hong Kong Securities and Futures Commission today published its 2024 Q2 quarterly report, with the following main contents involving virtual assets: 1. Nine entities were included in the warning list of suspicious virtual asset trading platforms during the quarter to warn the public against suspected fraud and unlicensed activities related to virtual assets. Television advertisements and radio advertising campaigns were launched to warn the public against investment scams and unlicensed virtual asset trading platforms, and anti-fraud messages were promoted by participating in community outreach activities and providing tips for foreign domestic helpers. 2. The virtual asset regulatory system has been optimized to allow retail investors to use virtual asset trading services and consulting services provided by intermediaries regulated by the Securities and Futures Commission, and the regulations applicable to intermediaries involved in the distribution of virtual asset-related investment products have been further clarified. 3. The trading of the first six virtual asset spot ETFs in Asia listed in Hong Kong remained smooth, with a total market value of HK$2.4 billion as of mid-August. 4. The digital submission function of the WINGS platform has been enhanced for operators of virtual asset trading platforms to facilitate their compliance with relevant filing requirements. 5. In order to promote the development of Hong Kong's tokenization market, the SFC has provided regulatory guidance on tokenization on many occasions. The SFC is also a founding member of the Ensemble Project Architecture Working Group established by the Hong Kong Monetary Authority (HKMA). The working group aims to develop industry standards for wholesale central bank digital currency (wCBDC), tokenized currency and tokenized assets.