Xiao Feng: The Hong Kong Securities and Futures Commission (SFC) is expected to issue a regulatory circular on Security Token Offerings (STOs) by the end of this year.

Odaily News: Chairman of HashKey Group, Xiao Feng, spoke at the "Hong Kong Cryptocurrency Summer Forum" and mentioned that there is still significant room for improvement in Hong Kong's existing regulatory rules and laws. He believes that there will continue to be improvements in the future, as there are still many regulations that have not been implemented, such as Security Token Offerings (STOs).



He further stated that by the end of this year, we may see regulatory guidance from the Hong Kong Securities and Futures Commission regarding STOs. Supporting the real economy and technological innovation in Hong Kong is essential for the development of cryptocurrency or virtual assets. STOs play a crucial role in enabling technology companies to raise funds, establishing a link between the cryptocurrency industry and the real economy, as well as Hong Kong's innovative technology sector. By providing clear rules in the regulatory guidance, the industry will have a better understanding of how to raise funds through tokenization.