Hong Kong SFCChairman Tang Jiacheng was recently receivedsaid in the interview, is exploring regulation of digital currency trading platforms in Hong Kong.

Similar to traditional stock exchanges, digital currency trading platforms are usually run by organizations that oversee their operation, maintenance and security, and pay fees to grant users access to the platform.

The reason for developing more formal cryptocurrency regulations to regulate trading platforms is becauseThe transaction volume of Bitcoin and other cryptocurrencies has increased, and the rapid growth of the industry requires further adjustment and improvement of regulations.In recent months, the Hong Kong Securities Regulatory Commission has issued warnings to investors to be cautious about its transactions, and issued a warning to operators that they must strictly abide by the regulations of the Securities Regulatory Commission.

Tang Jiacheng said that there will be no comprehensive ban on cryptocurrency transactions. On Internet platforms, "exchanges can still trade through overseas market platforms."

Regarding the development of standards for cryptocurrencies, Tang Jiacheng said, “At present, the international market does not have a comprehensive regulatory framework for these cryptocurrency platforms. We need to understand whether and how these platforms are regulated to the same standards as licensed trading venues, while ensuring investors’ safety. Interests are protected.” Since it is a virtual currency trading platform, it does not qualify as securities, and he said that “the regulatory methods of these platforms must be carefully considered.”

For this decision,Local cryptocurrency exchange platform operators welcome.

BitMEX is one of the world's largest bitcoin platforms and the largest pure futures trading exchange. The exchange hired a former Hong Kong market regulator to oversee its operations. Angelina Kwan, the company's chief operating officer, said it would work closely with the SEC on the proposed regulations. "We hope that the regulations under consideration can keep pace with the market development," like the United States has introduced regulations on cryptocurrencies, and I believe that regulators can help the development of a new industry."

Jeremy Allaire, founder and CEO of Circle, a blockchain unicorn invested by Bitmain, said that the company’s Hong Kong business provides over-the-counter trading of cryptocurrency commodity assets such as Bitcoin. He said, “ We recognize that there are real risks to investors and that rules need to be in place to address them. When new licensing or regulatory frameworks emerge, we will be watching closely and will proactively work with governments."

From this it can be seen that

From this it can be seen thatHong Kong is relatively open to blockchain and cryptocurrency.