Hong Kong’s Financial Secretary emphasized the need for “steady and cautious” growth.
Chan also emphasized the value of safety and effective risk management.
The Financial Secretary of Hong Kong has urged for a greater emphasis on transparency and adequate supervision when dealing with virtual assets, just days after Binance CEO Changpeng “CZ” Zhao warned of the advent of more regulatory scrutiny in the wake of the FTX crash.
Paul Chan, Hong Kong’s Financial Secretary, has emphasized the need for “steady and cautious” growth in the virtual asset sector. Along with Chan’s update was a banner that elaborated Chans words.
Value of Safety and Effective Risk Management
Earlier this year in October, the Hong Kong government announced a policy called the Policy Declaration on the Development of Virtual Assets in Hong Kong. Which established a regulatory framework and risk-based regulatory direction for the local virtual asset industry. There were also a number of pilot progr
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