Xu Zhengyu: Regulators will review requirements for cryptocurrency-related activities as needed

Hong Kong SAR Government Financial Affairs and Treasury Bureau Director, Christopher Hui, stated that regulatory authorities will review the requirements of activities related to cryptocurrencies as the industry develops. Hui stated today that the Hong Kong Monetary Authority and the Securities and Futures Commission will "closely monitor market developments and review the regulations related to virtual assets in appropriate circumstances." When asked by a legislator if regulatory authorities will accelerate the review process for cryptocurrency licenses and relax the rules for intermediaries distributing encrypted assets, he made the above comments.