The Hong Kong Securities and Futures Commission officially issued a proforma set of terms and conditions on the official website to supervise the investment in virtual assets. This is the second time that the Hong Kong Securities and Futures Commission issued the "Investment for Virtual Assets" in November last year. After the statement of the regulatory framework for the combined management company, fund distributors and trading platform operators, a more specific regulatory clause for the licensed virtual asset manager was officially released. The Hong Kong Securities and Futures Commission said that these terms and conditions will apply to all fund managers who manage virtual assets in Hong Kong. These regulated virtual asset managers may have plans to invest in virtual assets or intend to invest more than 10% of their portfolio in virtual assets.