According to TechFlow, Chan Ho-lim, Deputy Secretary for Financial Services and the Treasury, said at the Asian Financial Forum that the government will actively participate in promoting the development of virtual assets and the third-generation Internet ecosystem, and plans to amend the law to include virtual asset over-the-counter exchanges in the regulatory scope. He stressed that the government will ensure the management of the regulatory system, reduce the actual and potential risks of virtual assets, and provide a transparent and predictable regulatory environment for the development of the industry. Currently, more than 20 economies and more than 170 companies related to the third-generation Internet have established entities locally in Hong Kong. In June last year, the licensing system for virtual asset trading platform operators in Hong Kong was implemented, and two platforms have obtained licenses. The Securities and Futures Commission is also reviewing applications from more than 10 platforms. The HKMA will launch a sandbox arrangement to facilitate exchanges of views between regulatory authorities and the industry.