BlockBeats news, on November 11, Hong Kong Securities and Futures Commission CEO Liang Fengyi stated that despite Bitcoin's recent strong performance, the commission is more focused on the blockchain technology behind virtual assets and the financial technology and services it generates.
The Securities and Futures Commission will accelerate the development of a blockchain-based fintech ecosystem, including tokenized bonds and investment products, to enhance the efficiency of traditional financial settlements. Liang Fengyi pointed out that central bank digital currencies and stablecoins can effectively reduce the cost of cross-border remittances and suggested providing more opportunities during the technological development phase.
Furthermore, the Hong Kong Securities and Futures Commission plans to establish a mechanism for regular meetings twice a year with regulatory authorities in the Middle East, with the first meeting scheduled to be held in Hong Kong next year. (Jin Shi)