According to BlockBeats, on October 9, according to the Hong Kong Economic Times, the Financial Affairs Committee of the Legislative Council of Hong Kong will discuss the regulation of virtual asset trading platforms. Regarding the feasible form of regulation of OTC, the Hong Kong Financial Services and the Treasury Bureau responded that the government and regulatory agencies will review regulatory measures from time to time and consider introducing appropriate measures in response to market development, including regulating related businesses other than virtual asset trading platforms, which will take into account the appropriate regulatory agency, form 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, 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 exceeding 8,000 yuan must be registered with real names. At the same time, there must be a person in charge to receive AML training and set up a mechanism to report suspicious transactions. Customs should also set up a dedicated team and enhance professional knowledge.
