Hong Kong's Financial Services and the Treasury Bureau: A draft amendment bill will be submitted within the year to establish a licensing regime for virtual asset trading and custody.

BlockBeats news, October 5: Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that in response to the innovative development of financial technology, a draft amendment bill will be submitted within this year to establish a licensing regime for virtual asset trading, custody, advisory, and management services.

The Hong Kong Financial Services and the Treasury Bureau, together with the Hong Kong Monetary Authority, is also studying the optimization of the legal framework to encourage industries such as technology and telecommunications to strengthen the detection and removal of content involving fraud (including abuse of AI-generated content).