CoinVoice has recently learned that on October 9, according to a report in the Hong Kong Economic Journal, the Financial Affairs Committee of the Legislative Council of Hong Kong will discuss the regulation of virtual asset trading platforms. Regarding the feasible regulatory form of OTC, the Financial Services and the Treasury Bureau of Hong Kong responded that the government and regulatory agencies will review regulatory measures from time to time and consider introducing appropriate measures in response to market developments, including regulating related businesses other than virtual asset trading platforms, which will take into account the appropriate regulatory agencies, forms and regulatory requirements.

It is reported that Hong Kong has not officially counted the number of OTCs operating in physical stores. The industry estimates that there are more than 100 OTCs, some of which handle billions of cash transactions each year. In addition, industry insiders also suggested that OTCs should be supervised by the Customs, and the existing MSO license should be extended to virtual assets. Transactions over 8,000 yuan must be registered with real names. At the same time, a responsible person should receive AML training and a mechanism should be set up to report suspicious transactions. The Customs should also set up a dedicated team and enhance professional knowledge. [Original link]