According to BlockBeats, Huang Lexin, head of the Hong Kong Securities and Futures Commission's fintech group, said in an interview with blockchain analysis company Elliptic that the SFC will soon issue an update notice to change the view on STO four years ago (2019). Securities Tokens (security tokens) or RWAs (physical assets) will not be defined as complex products and have the opportunity to be open to retail investors. In addition, RWAs will be regulated based on the underlying assets. For example, if the tokenized asset is a bond, it will be regulated in the form of a bond.