Officer of the Hong Kong Securities and Futures Professionals Association: Hong Kong should establish a unified regulator for virtual assets

In response to the public consultation on this year's Policy Address launched by the Chief Executive of Hong Kong, Mr. Tsang Yu-shing, Director of the Hong Kong Securities and Futures Professionals Association (HKSFPA), has put forward a number of proposals on the securities industry to the Chief Executive, in which it is pointed out that, with the rapid development of the virtual assets market, the establishment of a unified regulator to enhance the efficiency of regulating the virtual assets has become particularly important. A unified regulator can provide consistent regulatory standards and procedures to ensure the stability and safety of the market, enhance investor confidence and promote the healthy development of the virtual assets market. At the same time, enhancing training in the field of virtual assets is also an important measure to rationally manage the risks of virtual assets. Through the provision of professional training and guidance, practitioners can have a more comprehensive understanding of the operating mechanism of the virtual assets market and formulate effective risk management measures to ensure the stability of the financial system.