Director of Investhk: The Hong Kong government is highly concerned about security tokens. The relevant legislation is expected to be completed in the first quarter of next year

BlockBeats news, on October 24, according to the China Fund News reported that Hong Kong Special Administrative Region Investhk fintech director Leung Hon-king said in an interview that the Hong Kong Special Administrative Region government is highly concerned about security Token issuance, and has been actively promoting the relevant preparation work. Leung pointed out that the first step is to have a compliant trading platform recognized by the SFC. "This step has been completed, and several virtual asset trading platforms have been registered in Hong Kong, such as OSL and HASHKEY. Step two: Have a product. At present, some trading platforms in Hong Kong have cooperated with well-known real estate developers, surveyors and Big Four accounting firms to design pilot security-based Token products. The most important step is to improve the relevant legislation for the supervision of virtual asset service providers (VASP). Mr Leung predicted that the Bill would be passed by the Legislative Council in the first quarter of 2023. At that time, it is believed that more VASPs will apply for licenses to regulators, and virtual asset trading in Hong Kong will blossom.