Wu said that according to hk01, in the latest interview, Leung Fung-yee, CEO of the Hong Kong Securities and Futures Commission, said that in order to lead the transformation of the financial market, it will promote the development of the regulatory system for virtual asset trading platforms, support the tokenization of traditional products, and use blockchain and Web3 basic technologies. It is planned to complete the relevant framework next year. Leung Fung-yee mentioned that 11 platforms have applied for licenses and are undergoing the first phase of review. It is expected that there will be new progress before the end of the year, including possible licensing in batches. In addition, in terms of cryptocurrency over-the-counter (OTC) services, Leung Fung-yee pointed out that the Hong Kong Securities and Futures Commission has formulated a new licensing system for cryptocurrency over-the-counter services and cryptocurrency custody services to solicit industry opinions.