3/N

In 2021, the government released a summary document and submitted a draft to the Legislative Council;

In 2022, the Legislative Council passed the draft, granting the China Securities Regulatory Commission the power to supervise virtual asset service providers;

2023,

On February 20, the China Securities Regulatory Commission issued regulatory rules and consultation documents;

The collection of consultation opinions will be stopped on March 31;

In 2024, the transition period ends on May 31, and businesses must operate with a license thereafter.

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