📢📢Blockchain News Express! Chen Zhihua, President of the Hong Kong Securities and Futures Professionals Association, recently wrote an article pointing out that Hong Kong's virtual asset platform licenses are facing challenges. 🤔Why? Because mainland laws strictly prohibit overseas institutions from providing virtual currency transactions and services to the mainland. For virtual asset platforms applying for licenses, this means that their actual controllers or parent companies cannot violate mainland laws and need to completely separate their entities in Hong Kong from their parent companies. 😱
👉In order to solve this problem, Chen Zhihua suggested that the SAR government set up a unified virtual asset supervision committee to coordinate the supervision of different institutions and ensure the consistency and effectiveness of regulatory standards. 👏He also proposed four directions: improving the regulatory system, the SAR government's consultations with relevant mainland departments, strengthening cross-departmental collaboration, and simplifying and accelerating the licensing process. 📝These are all to maintain Hong Kong's competitiveness in the global virtual asset market. 💪
We are optimistic about Bitcoin and look forward to Hong Kong's breakthroughs in virtual asset supervision and bringing new opportunities to the global blockchain industry! 🚀🚀