Hong Kong Securities and Futures Commission: The virtual asset development roadmap includes 12 initiatives

PANews reported on February 19th that the Hong Kong Securities and Futures Commission will announce the roadmap for the development of virtual assets this afternoon. Ye Zhiheng, Executive Director of the Intermediary Department of the Securities and Futures Commission, stated at the Consensus forum that it is not difficult to formulate the roadmap, the key lies in how to implement it. He revealed that there is not just one path, but there are 12 initiatives included. Ye Zhiheng pointed out that there is intentionally no timetable in the roadmap, as it is necessary for the industry and stakeholders to rethink how quickly to achieve these 12 initiatives. However, he said that it will not take a long time anyway, as the market changes rapidly, and as a regulatory body, it also needs to keep up with the changes, find low-hanging fruits, and show the market the results. The virtual asset consultation group held a meeting earlier, chaired by Ye Zhiheng, who stated that the group includes the management of all licensed virtual asset trading platforms in Hong Kong, providing opinions to the SFC, especially on whether these proposals are on the right track, with the next focus being on how quickly these visions can be realized.