The Hong Kong Securities and Futures Commission has published its vision for promoting the vibrant development of the fintech ecosystem: it is currently implementing a fast-track licensing approval process.

Golden Finance reported that, according to official news, the Hong Kong Securities and Futures Commission has expressed a vision to promote the flourishing development of the Hong Kong financial technology ecosystem. The current regulatory measures of the Securities and Futures Commission include risk-based on-site inspections and direct dialogues with senior management and controlling persons of applicants. On this basis, the Securities and Futures Commission of Hong Kong is now implementing a rapid licensing approval process to deal with applicants for virtual asset trading platforms that are treated as licensed. In order to fulfill the commitment to promote the sustainable and responsible development of the virtual asset industry, the Securities and Futures Commission of Hong Kong is collaborating with the Hong Kong SAR Government and other regulatory agencies to propose regulations for providing virtual asset trading services and virtual asset custody services, continue to provide active monitoring systems and public warnings, and deepen cooperation with other institutions to strengthen its investor protection work.