Hong Kong legislator Wu Jiezhuang: Advocates for the launch of "Digital Pass" to open a special channel allowing mainland investors to buy and sell recognized digital assets
Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum Committee Chairman Wu Jiezhuang stated that the licensing requirements for virtual asset trading platforms in Hong Kong are very high. The withdrawal of applications is mainly due to the company's financial issues, maturity of operations, investment in technology, and whether the choice of custodians is suitable. Regarding how the Hong Kong virtual asset market can serve the needs of the country in the future, Wu Jiezhuang believes that it can study the launch of the "Digital Pass", which is to open a special channel allowing mainland investors to buy and sell Hong Kong-recognized digital assets, further enriching the connotation of connectivity between the mainland and Hong Kong, while also benefiting financial innovation and cultivating new productive forces.
Hong Kong legislator Wu Jiezhuang: The SAR government can refer to the securities industry to establish a DAO licensing system
Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum Committee Chairman Wu Jiezhuang stated that the Hong Kong High Court is currently hearing the world's first lawsuit involving Decentralized Autonomous Organizations (DAO) this August. Currently, the United States and Abu Dhabi have relevant legal frameworks regulating DAOs. Since DAOs do not have legal entities, it is suggested that the SAR government can refer to the licensing practices of the securities industry to establish a DAO licensing system, requiring licensed DAOs to clarify internal relationships, and must establish Responsible Officers (RO) to ensure that licensed companies comply with the regulations of regulatory agencies and maintain daily operations of the company.
The Deng Chengbo family’s Easy Communication sells 6.8% stake in Hong Kong virtual asset exchange for 15 million HKD
News on December 31, according to a Hong Kong Stock Exchange announcement, the Deng Chengbo family-owned company listed on the Hong Kong stock market, Easy Communication, sold a 6.8% stake in the Hong Kong virtual asset exchange (HKVAX) for 15 million HKD. The buyers are Lean Group and businessman Liang Dehui, who purchased approximately 3.8% and 3% stakes in HKVAX for 8.4 million HKD and 6.6 million HKD, respectively. According to information from the Hong Kong Securities and Futures Commission, HKVAX was granted a virtual asset trading platform license on October 3 of this year and can operate business or promote its services to Hong Kong investors.