Chan Mo-po: Several more virtual asset trading platform licenses may be issued before the end of the year

Hong Kong Financial Secretary Paul Chan Mo-po stated that there have been multiple advancements in the digital asset policy since the policy declaration two years ago. This includes the launch of virtual asset trading platform regulatory requirements, with three operators having been licensed so far and several more expected to receive licenses by the end of this year. The Hong Kong government plans to promote legislation on this matter this year. Chan Mo-po also mentioned that the important themes in the financial sector for the next two years are blockchain and artificial intelligence (AI). While embracing new technologies, the government is also aware of the potential risks and therefore, balance and regulation are crucial. Since this year, three of the largest fintech investments in Asia have been made in mainland China and two in Hong Kong, indicating the attractiveness of the Hong Kong fintech market.