Xiao Lei: In the future, the Hong Kong encryption market may face stricter regulatory attitudes.

In response to the Hong Kong Securities and Futures Commission (SFC) investigating a number of cryptocurrency exchanges and ICO issuers, financial commentator Xiao Lei said that on November 1, last year, the Hong Kong Securities Regulatory Commission issued "management companies and funds for virtual asset portfolios." The Statement on the Regulatory Framework of Distributors and Trading Platform Operators, in fact, releases Hong Kong's investigation and regulatory attempts in the encrypted digital currency industry, exchanges and asset management companies. However, after half a year of observation, monitoring of the data, or discovering many problems, the supervisory authority has caused distrust of the relevant institutions such as the exchange. Xiao Lei believes that the Hong Kong market may face a tightening regulatory attitude in the future. “While Hong Kong has a certain degree of tolerance for financial innovation, if it is found to be difficult to achieve effective supervision, there will be a relatively large industry information barrier, it will appear more conservative.”