According to Foresight News, in response to the source's claim that "the Hong Kong Securities Regulatory Commission may participate in the formulation of OTC rules", Gary Tiu, executive director of OSL Group, a Hong Kong digital asset listed company, said that the introduction of the Securities Regulatory Commission may bring a more professional and comprehensive OTC regulatory framework, forming a multi-departmental regulatory system with the Customs to effectively prevent illegal activities and risks. At the same time, he also said that OSL, as the only two licensed virtual asset trading platforms currently identified by the Hong Kong Securities Regulatory Commission, complies with strict KYC and AML standards to ensure the safety of customer assets, and has obtained SOC 2 Type 2 certification and regular audits.
According to Foresight News, people familiar with the matter said that Hong Kong is considering allowing the Securities and Futures Commission to participate in the supervision of OTC virtual asset trading services. At present, the SFC has sought industry opinions on a potential new licensing system for cryptocurrency OTC services, which will be jointly supervised by the SFC and the Customs. In the proposal published in February 2024, OTC cryptocurrency stores were only supervised by the Customs.